The downfall of BlackBerry as a smartphone company continues. After its bid for survival on the back of third parties working with brand license is not paying off, the Canadian company is going ahead with the sale of its legacy patents to Catapult IP Innovations Inc. for $600 million. The collection of legacy patents relates to “mobile devices, messaging and wireless networking” but comprises “substantially all of its non-core patent assets,” the company claims.
According to BlackBerry, it has entered into this patent sale agreement, wherefrom it will receive $450 million in cash, and the rest $150 million will be provided as a promissory note first payment of which shall be due in three years. The company assures this sale will in no way affect the existing products and services, so users may not have to worry, and they can continue with BlackBerry as usual.
While this may sound all
...Keep reading this article on Android Community.
