Shearman & Sterling advised Tech+IP Advisory, LLC, as exclusive financial and transaction advisor to BlackBerry in connection with BlackBerry’s $600 million sale of its patents and related licensing assets. The acquiring and financing group includes Washington, D.C.-based Catapult IP Innovations, Inc and leading Canadian credit fund Third Eye Capital, among others. At closing, BlackBerry will receive $450 million in cash and a promissory note in the principal amount of $150 million. The completion of the transaction is conditional upon, among other customary closing conditions, satisfaction of all regulatory conditions under the Hart-Scott-Rodino Antitrust Improvements Act and the Investment Canada Act, which process could take up to 210 days.
Tech+IP Advisory, LLC is a boutique advisory firm specializing in advising company management, boards and other stakeholders on how to identify and realize value from their Tech+IP assets.