Blackberry Makes an Acquisition in the Artifical Intelligence and Cybersecurity Space
The Canadian multinational enterprise software company announced that is has entered into an agreement to acquire Cylance for $1.4 billion in cash, “plus the assumption of unvested employee incentive awards”.
The company which was founded in 2012, helps predict and prevent cyber security threats through the use of artificial intelligence technology. According to a Blackberry press release, Cylance “generates highly recurring revenue from over 3,500 active enterprise customers, including more than 20% of the Fortune 500”.
The deal is expected to close before February 2019.
Visa Strengthens its Commitment to Digital Payments in India
The financial services company announced in a press release that it’s investing a minority investment in BillDesk, “a leading platform for online payments and bill payments in India”.
The investment looks to help BillDesk develop “new product lines for its payments and loyalty businesses and also expand its footprint into other geographies”. According to OrbisResearch.com, digital payment transactions in India are expected to reach over $700 Billion by 2022.
Terms of the deal were not disclosed.
Volkswagen Invests in Innovation
The 81-year-old German auto manufacturing company announced that it’s investing over 44 billion Euros on “e-mobility, autonomous driving, new mobility services and digitalization in vehicles and at plants through 2023”.
According to a company press release, the spend represents approximately one-third of the company’s “total expenditure for the 2019-2023 planning period”.