BlackBerry quiet on whispers of Cylance acquisition

Reports claim BlackBerry is in talks over a $1.5bn deal

BlackBerry is reportedly in talks to acquire next-gen cybersecurity player Cylance in a deal that could be worth $1.5bn (£1.16bn).

Business Insider first reported on the rumours, citing multiple sources and claiming that the acquisition could be announced as early as this week. However, the publication claimed that any potential deal may still fail to materialise, adding that exact financial terms could not be established.

BlackBerry has been striving to reinvent itself over recent years, ditching its hardware focus and attempting to reposition itself as a software and cybersecurity player.

The vendor's branding still appears on smartphones via licensing deals.

At an event in London last year CEO John Chen claimed that the shift in focus was so radical that he had been encouraged to change the vendor's name.

Cylance execs, meanwhile, told CRN in June that the firm has now moved out of start-up mode and is in its next phase of growth.

Speaking about the firm's channel strategy, global partner boss Tim Mackie said Cylance was not looking to be acquired in the near future.

"The model we have built is not something we're talking up so we can get purchased in the next year," he said.

Since then Cylance has announced a Series E funding round of £120m, taking its total investment to nearly $300m, according to Crunchbase.

BlackBerry and Cylance have not commented on the rumours, Business Insider said.