BlackBerry Ltd. said Wednesday that it is free to explore other sale options for its patents after the prolonged transaction closing of the previously announced deal with Catapult IP Innovations. BlackBerry announced at the end of January that it would sell its legacy patents relating mostly to mobile devices to Maryland-based Catapult for $600 million. Closing of the deal was expected at the end of the first quarter of fiscal 2023. “Catapult continues to work on securing its required financing and BlackBerry looks forward to the completion of the Patent Sale Transaction. However, BlackBerry is no longer under exclusivity with Catapult and, given the length of time that the transaction has taken, BlackBerry is exploring alternative options in parallel,” the company said. BlackBerry stock slipped 0.3% in Wednesday premarket trading, and is down 35.3% for the year to date.
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