The Waterloo, Ont.-based tech company said it will sell its Cylance business, which makes one of its leading cybersecurity products, to Arctic Wolf for about US$160 million in cash. It will also get about 5.5 million shares of the Minnesota-based company, which also has a Waterloo office. (The Logic)

Talking point: The enterprise software firm has been trying to spin out its entire cybersecurity division for over a year to “unlock shareholder value.” But the deal price is a fraction of the US$1.4 billion in cash BlackBerry paid for Cylance in 2019, which it had hoped would help beef up its artificial intelligence portfolio. BlackBerry has been losing money—in part because Cylance was shedding customers and revenue due to heightened competition. The company said it will still resell Cylance to its large government customers. That’s especially relevant now, as tensions rise between China and the U.S. over the Salt Typhoon, which is reportedly one of the worst cyberattacks in U.S. history. Despite the discounted sale price, BlackBerry’s shares were up nearly 14 per cent in  Monday afternoon trading.