Canadian technology company BlackBerry has sold its patents on mobile technologies for $ 600 million. It is stated that the agreement in question covers non-core patents related to mobile devices, messaging and wireless networks.
BlackBerry will transfer the patents to Catapult IP Innovations. In return, he will receive $450 million in cash and $150 million in promissory notes. The agreement, which is scheduled to be completed by May 2022, will not affect customers using BlackBerry products and services.
Can be used in patent trolling
Catapult IP Innovations was founded by a group of mutual funds led by Toronto-based Third Eye Capital specifically for the acquisition of these patents. The company does not have any activities related to mobile technologies.
Such companies, which buy patents for the purpose of making money by suing other companies, not using them in any product, are called “patent trolls”. Therefore, Catapult IP Innovations may cause a headache for major smartphone manufacturers such as Apple in the future.
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