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BlackBerry announced a deal to sell its Cylance endpoint security assets to Arctic Wolf on December 16, 2024. The sale closed on February 3, 2025. The announced consideration was $160 million in cash, subject to adjustments, plus approximately 5.5 million Arctic Wolf common shares. BlackBerry later reported $79.8 million in net cash at closing and confirmed that a deferred $38.1 million payment arrived on February 10, 2026.
When did BlackBerry sell Cylance to Arctic Wolf?
The purchase agreement was dated December 15, 2024, and BlackBerry announced it the next day. The transaction closed on February 3, 2025. Those dates distinguish signing and public announcement from completion of the sale.
| Date | What happened |
|---|---|
| December 15, 2024 | The Equity and Asset Purchase Agreement was dated. |
| December 16, 2024 | BlackBerry publicly announced the agreement. |
| February 3, 2025 | The sale closed; BlackBerry reported receiving cash and Arctic Wolf shares. |
| February 10, 2026 | BlackBerry reported receiving the deferred $38.1 million payment. |
Sources: BlackBerry’s December 16, 2024 announcement, its February 3, 2025 closing report, and the executed purchase agreement.
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How much did BlackBerry get for Cylance?
The announcement described the deal as $160 million in cash, subject to adjustments, plus approximately 5.5 million Arctic Wolf common shares. That was the contractual headline amount, not the final net cash BlackBerry received at closing.
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In its fiscal 2025 filing, BlackBerry reported that the $160.0 million contractual cash amount was subject to approximately $39.1 million in adjustments. It recorded $79.8 million of net cash received at closing after purchase-price adjustments. The company also reported an estimated fair value of $24.6 million for its Arctic Wolf shares at closing; that is a historical accounting estimate, not a statement of their current value.
| Deal component | Reported amount | What it means |
|---|---|---|
| Announced cash consideration | $160 million, subject to adjustments | Announcement terms from December 2024. |
| Cash received at closing | $79.8 million net | BlackBerry’s fiscal 2025 reported amount after purchase-price adjustments. |
| Arctic Wolf shares | Approximately 5.5 million | Shares included in the announced consideration and received at closing. |
| Estimated value of shares at closing | $24.6 million | BlackBerry’s historical fiscal 2025 estimate. |
| Deferred cash payment | $38.1 million | Reported by BlackBerry as received on February 10, 2026. |
Sources: BlackBerry’s December 2024 announcement, its fiscal 2025 Form 10-K, and its fiscal 2026 Form 10-K.
At closing in February 2025, BlackBerry’s filing rounded the cash received to approximately $80 million and said approximately $40 million was expected about a year later. The later fiscal 2026 filing reported the actual deferred payment as $38.1 million received February 10, 2026. The rounded expectation and the later reported receipt are different figures from different reporting dates.
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The transaction transferred Cylance endpoint security assets and related liabilities to Arctic Wolf. The executed agreement identifies BlackBerry and its subsidiaries as sellers and Arctic Wolf entities as purchasers, and covers the transfer of Cylance equity interests, assets, and assumed liabilities. It should not be read as a sale of every BlackBerry cybersecurity activity or of BlackBerry itself.
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Source: the executed Equity and Asset Purchase Agreement.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What did BlackBerry say about its relationship with Arctic Wolf?
In the joint closing announcement on February 3, 2025, BlackBerry CEO John Giamatteo said the company looked forward to continuing its relationship with Arctic Wolf “as a customer, as a reseller of the portfolio to our large government customers, and as a shareholder of this dynamic, growing company.” This describes BlackBerry’s stated plans at closing; the statement alone does not establish the later status or scope of each relationship.
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Source: the joint closing announcement.
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