Malikie Innovations, a subsidiary of the IP-monetization company Key Patent Innovation, will pay US$170 million when the deal closes, plus US$30 million within three years of the deal’s closing. After that, the Waterloo, Ont.-based software maker will get royalties capped at about US$700 million on the mobile-device, messaging and wireless-networking technology patents it no longer uses for core operations. (The Logic)

Talking point: The company’s shares rallied about four per cent on the Toronto Stock Exchange as it sealed the long-awaited deal, taking the final steps to capitalize on its once-iconic mobile phone brand as it pivots more toward software and opts to license back the rest of its IP. The deal comes after a previously announced US$600-million patent portfolio sale to investment vehicle Catapult IP Innovations failed to close. BlackBerry said Tuesday that Catapult couldn’t secure financing on acceptable terms.