Tech+IP Advises on $600M Sale of BlackBerry Patents and Related Assets

Rhea-AI Summary

Tech+IP acted as BlackBerry's exclusive advisor in a significant US$ 600 million transaction involving the sale of over 35,000 patents and related assets. This deal, considered the largest of its type, includes firms such as Catapult Innovations and Third Eye Capital. Tech+IP expressed that this transaction underscores the value of R&D investments and aims to enhance BlackBerry's core business and shareholder value. Previous advisory roles by Tech+IP for BlackBerry include the sale of its Paratek Antenna assets in 2020 and a $940 million arbitration against Qualcomm.

Positive

• Completed a US$ 600 million sale of over 35,000 patents and related assets, enhancing liquidity.
• The deal is viewed as the largest underwritten patent transaction, indicating strong market confidence in BlackBerry's IP.
• Strategic sale aimed at leveraging assets to advance BlackBerry's core business and drive shareholder value.

Negative

• None.

WASHINGTON, Jan. 31, 2022 /PRNewswire/ -- Tech+IP, a boutique advisory firm focused on advanced technology and patent transactions, based in the Washington DC area and San Francisco, CA (www.techip.cc), served as BlackBerry Limited's (NYSE:BB; TSX: BB) exclusive financial and transaction advisor in connection with a transaction of BlackBerry IP Licensing assets here. 

 

Tech+IP Advises on the US$ 600M Sale of BlackBerry Patents and Related Assets

The US$ 600M transaction, involving the sale of over 35,000 BlackBerry patents and related licensing assets, is believed to be the largest such underwritten deal of its kind. The acquiring and financing group includes Washington DC based Catapult Innovations, LLC and leading Canadian credit fund Third Eye Capital, among others. More information about the transaction can be found here.

"This deal reflects the great value of R&D investment made by BlackBerry, from its roots at the University of Waterloo, through a Company which pioneered wirelessly connected pagers and smartphones, to becoming the leading cybersecurity enterprise software and services company today," said Edmund Fish, co-Founder and Managing Director at Tech+IP. "At the same time, it also highlights the leadership and foresight of the BlackBerry Senior team to understand how these strategic assets could be leveraged to advance BlackBerry's core operating businesses, grow shareholder value, and drive a next wave of Canadian innovation."

Elvir Causevic, co-Founder and Managing Director of Tech+IP added: "At Tech+IP we believe in the value of R&D, invention, and the social benefits that flow from an innovation economy, all of which require an efficient marketplace that values IP. We are delighted to have been able to advise BlackBerry again in this market-defining private equity backed deal which will support further cycles of their innovation and growth. We are especially grateful for BlackBerry's long-term partnership, a keystone of our success – in 2020 we advised on the sale of its Paratek Antenna assets and in 2017 we advised the Company and Sullivan & Cromwell in their $940M FRAND arbitration award against Qualcomm."

The team at Tech+IP leading the firm's representation of BlackBerry in the transaction also included Ryen Hoffman, Bojan Marijanovic, Chuck Fish, Eldin Abaz, Indira Habibovic, and numerous others across all our offices. Sullivan & Cromwell served as legal counsel for BlackBerry, and Shearman Sterling for Tech+IP.

About Us

Tech+IP Advisory, LLC is a boutique advisory firm specializing in advising company management, boards and other stakeholders on how to identify and realize value from their Tech+IP Assets. Headquartered in the Washington DC area with offices in San Francisco, Taipei and Sarajevo, Tech+IP was founded by the former global co-heads of Tech+IP Advisory for leading independent investment bank Houlihan Lokey.

Contacts: Elvir Causevic: Elvir@techip.cc and Ed Fish: Ed@techip.cc

Tech+IP Advisory is a separate and distinct Company from Tech+IP Capital, LLC, a boutique investment bank focused on M&A and financing involving advanced technology companies. Broker dealer FINRA registrations for Tech+IP Capital, LLC principals are provided through GT Securities, Inc. Member FINRA / SIPC

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SOURCE Tech+IP Advisory, LLC

FAQ

What is the value of the BlackBerry patent sale in January 2022?

The patent sale was valued at US$ 600 million.

How many patents were sold in the BlackBerry transaction?

Over 35,000 patents were sold in the transaction.

Which firms were involved in financing the BlackBerry patent sale?

The financing group included Catapult Innovations and Third Eye Capital.

What previous transactions has Tech+IP advised BlackBerry on?

Tech+IP previously advised BlackBerry on the sale of its Paratek Antenna assets in 2020 and a $940 million arbitration against Qualcomm.

What does the patent sale mean for BlackBerry's future?

The sale aims to enhance BlackBerry's liquidity and support its core business operations, potentially increasing shareholder value.