Arctic Wolf and BlackBerry Limited, two global leaders in security software and services, have announced they have entered into a definitive agreement for Arctic Wolf to acquire BlackBerry’s Cylance endpoint security assets.
Under the terms of the agreement, BlackBerry will sell its Cylance assets to Arctic Wolf for $160 million of cash, subject to certain adjustments, and approximately 5.5 million common shares of Arctic Wolf. After allowing for the purchase price adjustments, BlackBerry will receive approximately $80 million of cash at closing and approximately $40 million of cash one year following the closing.
The proposed transaction is subject to customary closing conditions and is expected to close in BlackBerry’s fourth fiscal quarter.
Perella Weinberg Partners LP served as exclusive financial adviser to BlackBerry and Morrison Foerster LLP served as legal adviser to BlackBerry. Cooley LLP served as legal adviser to Arctic Wolf.
