Canadian technology company Blackberry announced on Monday that it sold all non-core patent rights to a US tech firm Catapult IP Innovations.
The US-based firm agreed to pay $600 million for the patent deal.
“BlackBerry will receive a license back to the patents being sold, which relate primarily to mobile devices, messaging and wireless networking,” Blackberry said.
Blackberry will receive $450 million in cash and a promissory note in the principal amount of $150 million as part of the deal.
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