BlackBerry has sold a collection of legacy patents covering mobile technologies for $600M, a deal that will likely result in increased legal drama for smartphone producers like Apple in the future. has agreed to a patent sale agreement, which has the former smartphone giant handing over its non-core patent assets to Catapult IP Innovations for $600 million.
The transaction will grant BlackBerry $450 million in cash and a promissory note for $150 million, as well as a license back for the patents. The collection of patents related to mobile devices, messaging, and wireless networking IPs.specifically says that the sale will not affect customers using its products or services.Catapult IP Innovations is described by BlackBerry as “a Delaware company” that is a “special purpose vehicle formed to acquire the patent assets.”
BlackBerry patents have been used to sue other companies in the past, such as legal action in March 2018 against Facebook over Facebook messenger. Apple has also been a target of a patent lawsuit based on the work of Research in Motion, former name. In 2019, Non-practicing entity Fundamental Innovation Systems accused Apple of infringing on multiple payments concerning USB charging and communication technologies.