[app_Developer]

Maybe that's part of the issue.... they deal in scale that's too big for these EV Smart Vehicle to be viable for them at this point? Amazon's order of 100K delivery vehicles from Rivian is impressive.... not as much when it over then next ten years. But Rivian will bend over backwards to offer the software package that Amazon wants. Ford or GM would say here you go.... want it customized, visit one of our 3rd party vendors. Or worse... no you can't add that.

Right, its' just like any other business. There are custom PC makers (OriginPC, etc) and then there is Lenovo, Dell.

[BlueOyster]

I am selling puts and covered calls on all shares I own going forward with a 5 dollar strike price. At least I can make a bit of money from the volatility as I wait for something to happen.

[Chuck Finley69]

I am selling puts and covered calls on all shares I own going forward with a 5 dollar strike price. At least I can make a bit of money from the volatility as I wait for something to happen.

Gonna change your ID to MiniPrem or someone like that ;-D

[BlueOyster]

Gonna change your ID to MiniPrem or someone like that ;-D

Ha! You are very kind... I love the idea of structuring investments more than just flat out owning them.

[Chuck Finley69]

Ha! You are very kind... I love the idea of structuring investments more than just flat out owning them.

Just remember on the naked put side, they can put worthless shares to you at full strike price.

[BlueOyster]

Just remember on the naked put side, they can put worthless shares to you at full strike price.

Indeed, that's why you always have the money to cover the downside ready, but you take in option premium while I wait. Lil' prem out!

[Dunt Dunt Dunt]

Kind of shocking how quite things have gotten.... guess have to wait till December for another round of press releases?

But not sure the stock can take the quite....

[Corbu]

Bof A Securities

BlackBerry

Terminating coverage

Termination of Coverage: NEUTRAL | PO: 5.50 USD | Price: 4.49 USD

Terminating coverage due to reallocation of resources

Effective immediately, we are terminating our coverage of Blackberry (BB) due to a reallocation of resources. Our final investment opinion reflects our analysis as of the date of this research report, and investors should no longer continue to rely upon any ratings, price objectives, estimates, or opinions issued on the company prior to this.

[Dunt Dunt Dunt]

Bof A Securities

BlackBerry

Terminating coverage

Termination of Coverage: NEUTRAL | PO: 5.50 USD | Price: 4.49 USD

Terminating coverage due to reallocation of resources

Effective immediately, we are terminating our coverage of Blackberry (BB) due to a reallocation of resources. Our final investment opinion reflects our analysis as of the date of this research report, and investors should no longer continue to rely upon any ratings, price objectives, estimates, or opinions issued on the company prior to this.

In the time of COVID... could be just that, especially with these uncertain times.



But in the end, it's got to be pretty hard to track BlackBerry these days. You'd need someone with very specific contacts in the auto industry, and then someone that is in the high end software security market that deals with regulated industries and government. For a stock that isn't doing much of anything....

[Corbu]

https://blogs.blackberry.com/en/2020...f-cyberwarfare
BlackBerry Sponsors Cyberwar On-Demand: Exploring the Ecosystem of Cyberwarfare

[Corbu]

PR:
https://www.prnewswire.com/news-rele...301165498.html
BlackBerry QNX Adds Another Certification to its Embedded Software Portfolio

[Corbu]

https://www.globenewswire.com/news-r...the%20internet.
Verizon Business debuts Business Internet Secure to protect small businesses

[Chuck Finley69]

https://www.globenewswire.com/news-r...the%20internet.
Verizon Business debuts Business Internet Secure to protect small businesses

I'm assuming BlackBerry Cylance developed...

[Corbu]

11.11.20

https://www.iam-media.com/market-dev...portfolio-sale

Exclusive: Blackberry eyes possible patent portfolio sale

Over the last six years the Canadian tech giant has emerged as a significant IP licensing force but its monetisation efforts are not always recognised by investors

Blackberry is actively exploring options to sell its patent portfolio, IAM understands. A possible deal has been on the table for most of this year, with former Houlihan Lokey executives Elvir Causevic and Ed Fish pitching it to possible buyers.

Any sale by the Canadian-based tech giant of even part of its portfolio would represent one of the largest and most valuable IP divestments since the sale of the Nortel portfolio in 2011.

While any transaction is unlikely to approach the $4.5 billion that the Rockstar consortium paid for those assets, in terms of the number of patents involved Blackberry’s 38,000 worldwide assets dwarf the more than 6,000 former Nortel rights that changed hands nine years ago.

It is understood that under one deal structure being mooted by Blackberry, it would retain a back-end interest in future revenues generated by the purchaser. If that is the case, it would point to a sale to the NPE side of the IP market. In order to prevent that from happening, an alternative scenario is that a single operating company, or a consortium of them, steps in to make a purchase. The latter would almost certainly lead to a far higher sales price than the former.

At this stage, though, it is not clear who might be in the running. However, while there are plenty of operating companies that might have the financial resources to get involved in a purchase, there are fewer in the market who can combine the kind of capital required to land a deal with the licensing savvy to then generate a return from the assets.

One obvious option would be the Fortress IP group, led by Eran Zur. It clearly has access to the cash required and the expertise to make hay with the IP. Beyond them, private equity or other big ticket financial players could back a deal and support a specially created vehicle designed to exploit the patents. Were that to happen, it would provide further evidence that at a time of economic uncertainty the patent market is proving increasingly attractive to entities seeking uncorrelated assets in which to invest.

While Blackberry has a strong track record of licensing into wireless, thanks to its time as a giant of the handset space, one of the pitches being made to buyers is that there are still plenty of monetisation opportunities in areas such as messaging, social media and enterprise security.

A Blackberry spokesperson declined to comment for this article.

One of the other strengths of the portfolio is said to lie in its relative youth. In 2016, CEO John Chen told delegates at an event in Canada that the company had “one of the youngest patent portfolios in the entire industry, so monetisation of our patents is an important aspect of our turnaround”.

That year, the Blackberry head also revealed to analysts on an earnings call that: “Many people have wanted to buy [the company’s] patents… But I’m not really in a patent selling mode, I’m in a patent licensing mode.”

Under Chen, the company has pivoted away from devices to become centred on software and services, with a focus on a number of areas including automotive. Last year it made an aggressive push in the cybersecurity space with the acquisition of Cylance and, like the licensing arm of any operating company, it faces the challenge of asserting its IP assets against existing or potential customers. For more detail on the Blackberry portfolio, you can see an in-depth analysis that we recently ran here.

While Blackberry came to IP monetisation later than several former handset rivals, such as Nokia and Ericsson, over the last six years it has pursued a number of strategies to generate a return from its portfolio.

In 2015, it sold a portion of assets related to USB charging technology to private equity firm Centerbridge Partners. Those assets are currently being licensed by a team at Jaspar IP.

In 2017, it agreed a deal with Teletry to monetise a large chunk of its assets to Android device makers. It has also signed up as a licensor to both Avanci and Velos which, like Teletry, are part of the web of platforms administered by Marconi. Between 2014 and 2017 the company invested heavily in its licensing team led by Mark Kokes. He put several deals in place, including with Cisco, before leaving to become chief IP officer at NantWorks.

The company has also targeted prospective licensees through the courts, filing suits in 2018 and 2019 against Facebook, Snap and Twitter over the alleged infringement of multiple messaging patents. Earlier this year, it expanded its monetisation operation with the hire of former TiVo and McKool Smith dealmaker Bryan Yearwood as director of licensing.

While the Canadian company’s licensing operation lags the likes of Nokia and Ericsson, it still brought in a very respectable $328 million for its last financial year which closed at the end of February. That represented almost one third of the company’s top line, although, as with many IP-heavy businesses, that licensing performance is not always fully recognised by the public markets.

Any deal that did materialise for the Blackberry portfolio would be a significant fillip for Causevic and Fish, just months after they departed Houlihan and established their own boutique advisory business known as Tech+IP Capital. As well as picking up the Blackberry mandate, the pair recently acted as financial advisers to Conversant in its licensing dealwith RPX. Causevic declined to comment for this article.

[Corbu: Thanks to source.]

[bb_po]

11.11.20

https://www.iam-media.com/market-dev...portfolio-sale

Exclusive: Blackberry eyes possible patent portfolio sale

...

[Corbu: Thanks to source.]

Thank you for the article, Corbu.

Do you think your source can also provide the in-depth analysis article mentioned, "...its IP assets against existing or potential customers. For more detail on the Blackberry portfolio, you can see an in-depth analysis that we recently ran here"?

[Dunt Dunt Dunt]

11.11.20

https://www.iam-media.com/market-dev...portfolio-sale

Exclusive: Blackberry eyes possible patent portfolio sale

Over the last six years the Canadian tech giant has emerged as a significant IP licensing force but its monetisation efforts are not always recognised by investors

Blackberry is actively exploring options to sell its patent portfolio, IAM understands. A possible deal has been on the table for most of this year, with former Houlihan Lokey executives Elvir Causevic and Ed Fish pitching it to possible buyers.

Any sale by the Canadian-based tech giant of even part of its portfolio would represent one of the largest and most valuable IP divestments since the sale of the Nortel portfolio in 2011.

While any transaction is unlikely to approach the $4.5 billion that the Rockstar consortium paid for those assets, in terms of the number of patents involved Blackberry’s 38,000 worldwide assets dwarf the more than 6,000 former Nortel rights that changed hands nine years ago.

It is understood that under one deal structure being mooted by Blackberry, it would retain a back-end interest in future revenues generated by the purchaser. If that is the case, it would point to a sale to the NPE side of the IP market. In order to prevent that from happening, an alternative scenario is that a single operating company, or a consortium of them, steps in to make a purchase. The latter would almost certainly lead to a far higher sales price than the former.

At this stage, though, it is not clear who might be in the running. However, while there are plenty of operating companies that might have the financial resources to get involved in a purchase, there are fewer in the market who can combine the kind of capital required to land a deal with the licensing savvy to then generate a return from the assets.

One obvious option would be the Fortress IP group, led by Eran Zur. It clearly has access to the cash required and the expertise to make hay with the IP. Beyond them, private equity or other big ticket financial players could back a deal and support a specially created vehicle designed to exploit the patents. Were that to happen, it would provide further evidence that at a time of economic uncertainty the patent market is proving increasingly attractive to entities seeking uncorrelated assets in which to invest.

While Blackberry has a strong track record of licensing into wireless, thanks to its time as a giant of the handset space, one of the pitches being made to buyers is that there are still plenty of monetisation opportunities in areas such as messaging, social media and enterprise security.

A Blackberry spokesperson declined to comment for this article.

One of the other strengths of the portfolio is said to lie in its relative youth. In 2016, CEO John Chen told delegates at an event in Canada that the company had “one of the youngest patent portfolios in the entire industry, so monetisation of our patents is an important aspect of our turnaround”.

That year, the Blackberry head also revealed to analysts on an earnings call that: “Many people have wanted to buy [the company’s] patents… But I’m not really in a patent selling mode, I’m in a patent licensing mode.”

Under Chen, the company has pivoted away from devices to become centred on software and services, with a focus on a number of areas including automotive. Last year it made an aggressive push in the cybersecurity space with the acquisition of Cylance and, like the licensing arm of any operating company, it faces the challenge of asserting its IP assets against existing or potential customers. For more detail on the Blackberry portfolio, you can see an in-depth analysis that we recently ran here.

While Blackberry came to IP monetisation later than several former handset rivals, such as Nokia and Ericsson, over the last six years it has pursued a number of strategies to generate a return from its portfolio.

In 2015, it sold a portion of assets related to USB charging technology to private equity firm Centerbridge Partners. Those assets are currently being licensed by a team at Jaspar IP.

In 2017, it agreed a deal with Teletry to monetise a large chunk of its assets to Android device makers. It has also signed up as a licensor to both Avanci and Velos which, like Teletry, are part of the web of platforms administered by Marconi. Between 2014 and 2017 the company invested heavily in its licensing team led by Mark Kokes. He put several deals in place, including with Cisco, before leaving to become chief IP officer at NantWorks.

The company has also targeted prospective licensees through the courts, filing suits in 2018 and 2019 against Facebook, Snap and Twitter over the alleged infringement of multiple messaging patents. Earlier this year, it expanded its monetisation operation with the hire of former TiVo and McKool Smith dealmaker Bryan Yearwood as director of licensing.

While the Canadian company’s licensing operation lags the likes of Nokia and Ericsson, it still brought in a very respectable $328 million for its last financial year which closed at the end of February. That represented almost one third of the company’s top line, although, as with many IP-heavy businesses, that licensing performance is not always fully recognised by the public markets.

Any deal that did materialise for the Blackberry portfolio would be a significant fillip for Causevic and Fish, just months after they departed Houlihan and established their own boutique advisory business known as Tech+IP Capital. As well as picking up the Blackberry mandate, the pair recently acted as financial advisers to Conversant in its licensing deal with RPX. Causevic declined to comment for this article.

[Corbu: Thanks to source.]

So.... is this really good for shareholders?

BlackBerry sells off a chuck of IP for say $300 million... where will that go? And what's left of the valuation of BlackBerry once that cash get's spent paying off loans.

Reason IP isn't always recognized by investors... is it's very hard to value and tends to not hold it value long term - unless the company remains a cutting edge leader in their sector(s). There was a time some investors here valued IP at $4- $6 Billion alone. It's clear it wasn't and isn't worth that. Is it worth $2 Million? $1 Million?
It does account for 1/3 of BlackBerry revenues, so for now it is VERY relevant. But we don't know the length of the current licensing deals, or when those patents expire. BlackBerry isn't exactly a cutting edge company that spends a lot on R&D every year, so future prospect aren't as good. And being that BlackBerry and several head-hunters have spent the last six years trying very hard to monetize that IP. What's left?

I've questioned the value for FairFax in taking BlackBerry private... but if a good chunk of the IP is sold off, that leaves them with even less to work with.

BlackBerry really needs a big win with those Social Messaging suites.... or find a buyer before they lose.

[shanhetao]

So.... is this really good for shareholders?

BlackBerry sells off a chuck of IP for say $300 million... where will that go? And what's left of the valuation of BlackBerry once that cash get's spent paying off loans.

Reason IP isn't always recognized by investors... is it's very hard to value and tends to not hold it value long term - unless the company remains a cutting edge leader in their sector(s). There was a time some investors here valued IP at $4- $6 Billion alone. It's clear it wasn't and isn't worth that. Is it worth $2 Million? $1 Million?
It does account for 1/3 of BlackBerry revenues, so for now it is VERY relevant. But we don't know the length of the current licensing deals, or when those patents expire. BlackBerry isn't exactly a cutting edge company that spends a lot on R&D every year, so future prospect aren't as good. And being that BlackBerry and several head-hunters have spent the last six years trying very hard to monetize that IP. What's left?

I've questioned the value for FairFax in taking BlackBerry private... but if a good chunk of the IP is sold off, that leaves them with even less to work with.

BlackBerry really needs a big win with those Social Messaging suites.... or find a buyer before they lose.

For annual revenue of 300mm with high margin and current market condition, the sale shall be at least 1 billion. I would guess 1.5 billion would be more reasonable. 2 billion might be a little bit hard. It would be ridiculous to value it 300 mm.

[Rice Dawg]

I generally concur with shanhetao's valuation of their IP portfolio. If they can get nab a buyer at the $1.5 to $2 billion price range (or more), I'd vote for its sale. In this case, a bird in the hand is worth two in the bush. IP licensing is not just opaque, it's simply not their core focus as a business. At best it's a more sustainable version of the old SAF stream -- the monetization of yesteryear's technologies. Most notably, such a value equates to over 50% of their current EV and it would almost certainly vault BB share prices upwards that dramatically (unless investors somehow believe UEM/UES + QNX are worth less than $1 billion).

A wrinkle is that BB is still currently relying on IP licensing revenues to break-even. John Chen would have to be comfortable with losing that stream of cash flow with the belief that enterprise software and QNX are growing fast enough to backfill the transom and/or the market will start to value BB based on ARR growth like a true cloud SaaS company.

We can only wait and see how their execution goes over the next year or so. There seems to be an ample hiring of Citrix vets based on a cursory glance at new President Tom Eacobacci's LinkedIn feed. Certainly much more than Bryan Palma ever did.

[EchoTango]

For annual revenue of 300mm with high margin and current market condition, the sale shall be at least 1 billion. I would guess 1.5 billion would be more reasonable. 2 billion might be a little bit hard. It would be ridiculous to value it 300 mm.

I'm thinking this is a pure desperation move to cover the current dearth of revenues from the core businesses. Further I think a patent sale will negatively impact any acquisition offers going forward as the patent portfolio was always touted as a "potential cash hoard" which a purchaser could see further material revenues. Of course, these do have a shelf life and if Blackberry isn't going to do anything with them, they may as well at least get something for them now.

After this possible transaction what else does Blackberry have that would interest a big tech buyer ? QNX ? Lol !

[Dunt Dunt Dunt]

I'm thinking this is a pure desperation move to cover the current dearth of revenues from the core businesses. Further I think a patent sale will negatively impact any acquisition offers going forward as the patent portfolio was always touted as a "potential cash hoard" which a purchaser could see further material revenues. Of course, these do have a shelf life and if Blackberry isn't going to do anything with them, they may as well at least get something for them now.

After this possible transaction what else does Blackberry have that would interest a big tech buyer ? QNX ? Lol !

BlackBerry and FairFax are already aware of any interest by big tech buyers. This might be an effort to get them interested, to up the ante or to just move on without them. (that it's been going on a year.... sound like the latter)

While the value of BlackBerry's IP is a mystery to all of us. My guess is BlackBerry has a very good notion of what it's value is now and what it will be in the coming years as those 14 and 20 year patents expire. This is the third or fourth company to be working with them on trying to monetize it. While some feel that maybe BlackBerry hasn't done much of anything to monetize it.... maybe that's simply because it's not a valuable as we hoped it was.

But my $300 Million (wild guess) was more based on the parts I think BlackBerry will be willing to give up.... as I don't see them surrendering IP on current products, or the brand. The name might still be their most valuable IP, but it's clearly not worth what it was seven years ago.

[rarsen]

General food for thought:

Tesla fights new ‘Right to Repair’ initiative over cybersecurity concerns
https://electrek.co/2020/10/14/tesla...s/#more-151279

[rarsen]

General information:

BlackBerry discovers new hacker-for-hire mercenary group
https://www.zdnet.com/article/blackb...&cid=716503125

[John Tomasson1]

Can't believe. Jaguar finally got top infotainment system. PiviPro is full of QNX:
https://www.jaguarlandrover.com/news...obest-awards-0

[Corbu]

PR:
https://www.prnewswire.com/news-rele...301174426.html
Plus Chooses BlackBerry to Power Its Class 8 Truck Automated Driving System First Self-Driving Truck Developer to Leverage Safety-Certified BlackBerry QNX Operating System

[Corbu]

G&M:
https://www.theglobeandmail.com/busi...-it-refocuses/
BlackBerry looks to sell majority of its patents as it refocuses

Canada’s biggest patent holder, BlackBerry Ltd., is looking to unload most of its intellectual property in a deal that could mark another turning point for the fallen former smartphone giant.

But it could also deal a major setback to Ottawa’s innovation strategy efforts, marking the second time in a decade that valuable IP assets from one of Canada’s leading research-and-development-driven companies have been sold off. If, as expected, a deal results in ownership of tens of thousands of BlackBerry patents passing into foreign hands, taxpayer-funded assets potentially worth hundreds of millions of dollars could leave the country along with prospects of generating any further benefit to the economy.

The Globe and Mail has confirmed a report last week by IP industry journal IAM that BlackBerry recently began shopping the majority of its 38,000 patents to interested parties. Tech+IP Capital, LLC, a U.S. investment banking firm, is handling the sale for BlackBerry.

A source familiar with the situation told The Globe the company isn’t certain what price it will get, but it’s believed the portfolio could be worth more than US$450-million - a significant size for a deal in the global patent trade, but a fraction of the US$4.5-billion a consortium led by Apple Inc. Apple Inc. paid in 2011 for a trove of 6,000 Nortel Networks patents. The Globe is not identifying the source as they are not authorized to speak publicly on the matter.

A BlackBerry spokesman declined comment, saying the Waterloo, Ont. company “does not comment on rumour or speculation.”

The patents up for sale include IP in areas where BlackBerry was a trailblazer but is no longer a player, such as mobile instant messaging and social collaboration tools. The company has several thousand more patents it is expected to keep because they underlie its current businesses, which include cybersecurity and building computer operating systems for cars,

CEO John Chen, who has been trying to turn BlackBerry around since he was appointed in November, 2013, has been managing the exit of the company from the smartphone business, cutting costs and shifting into new software businesses. But the company’s share price has been volatile, and sits at US$5.29 on the New York Stock Exchange after hitting a high of more than double that in early 2018.

One consistent bright spot has been the company’s ability to generate revenues and profits from its patents by pursuing licensing deals with other firms, typically by negotiating with companies it maintained were using its IP, or by suing companies such as Facebook, Twitter and Snap it said owed the company for the privilege.

BlackBerry’s patent portfolio is “large, diverse and deep, meaning that in the hands of a savvy owner, it is extremely valuable,” said Waterloo-based IP lawyer Jim Hinton.

BlackBerry has generated a bounty of revenues and profits in recent years from its patents by pursuing licensing deals with other firms – typically by negotiating with companies it maintained were using its IP, or by suing companies such as Facebook, Twitter and Snap it said owed the company for the privilege.

BlackBerry generated US$328-million in “licensing and other” revenue last year – over 31 per cent of total sales – and US$1.1-billion over the past five years. The licensing business has remained one of the few bright spots for the business during the COVID-19 pandemic, although the inconsistency and unpredictability of licensing deals mean the business isn’t fully valued by public shareholders.

"Licensing and other” revenue in the company’s second quarter ended Aug. 31 amounted to US$108-million – 42 per cent of BlackBerry’s total and well ahead of expectations – and helped it deliver a stronger-than-expected profit of US11 cents a share. Licensing revenues are expected to surpass US$250-million this fiscal year.

A sale of most BlackBerry patents would result in “a sharp change of business direction because they’ve been quite successful licensing their portfolio,” said Louis Carbonneau, CEO with Tangible IP, a Seattle patent brokerage and strategic advisory firm.

But "it’s bad news either way” for Canada, he said, because the patents reside here and the government has subsidized BlackBerry’s research and development over the years.

“You’ve got 40,000 patents that basically will be owned most likely by a non-Canadian company,” probably a financial firm that specializes in amassing patents and pursuing licensing deals, said Mr. Carbonneau, a Canadian who has pushed Ottawa to attach strings to IP developed with taxpayer money so that some benefits remain here even after a sale.

Other industry experts said a sale of BlackBerry’s patents would deal a blow to the country’s standing at a time when the government has been making initial steps to improve Canada’s poor reputation for commercializing ideas. BlackBerry is one of Canada’s top 20 spenders on research and development and was number one a decade ago.

“The sale of a massive BlackBerry patent portfolio would knock Canada down further in the global patent ownership rankings," said Natalie Raffoul, an Ottawa-based patent lawyer who noted BlackBerry is the sole Canadian firm among the world’s top 100 patent holders. "Given the economic value of IP and data assets today, Canadian government leaders and policy makers need to perk up to this reality that we continue to lose ground on owning these valuable assets. "

Mr. Hinton called BlackBerry “the lone Canadian standout in the global arms race for IP accumulation” even after it stopped making smartphones. A patent sale would leave Canada “holding no significant position in a global patent market that represents the most valuable assets today. I question whether the government should step in to ensure that critical [publicly funded] IP assets aren’t being offshored for economic and national security reasons.”

John Power, a spokesman for Innovation, Science and Industry Minister Navdeep Bains said, “We are unable to comment on speculation involving commercial transactions.” But Mr. Power added that, “when we look to the world stage to learn from other successful innovation nations, it is clear that no innovation plan is complete without clear support for and understanding of the strategic use of intellectual property.”