09:31 AM EST, 12/16/2024 (MT Newswires) -- BlackBerry (BB) said Monday that it has agreed to sell its Cylance endpoint security assets to Arctic Wolf for $160 million of cash and 5.5 million Arctic Wolf common shares.

BlackBerry said that after allowing for purchase price adjustments, it will receive $80 million in cash at closing and $40 million in cash a year after closing.

The deal is expected to be completed in BlackBerry's fiscal Q4.