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One of the largest PE-backed patent deals announced, despite economic headwinds
WASHINGTON, March 21, 2023 /PRNewswire/ -- Tech+IP, the leading boutique advisory firm focused on advanced technology and intellectual property based in the Washington DC area and Europe ( www.techip.cc ), has been advising BlackBerry Limited (NYSE:BB) (TSX: BB) since the inception of this significant non-core patent transaction, the latest iteration of which was announced by BlackBerry earlier today. https://www.prnewswire.com/news-releases/blackberry-announces-new-patent-sale-transaction-with-leading-patent-monetization-company-for-up-to-900-million-301777185.html
The deal includes close to 32,000 patents and applications relating primarily to mobile devices, messaging and wireless networking and excludes patents and applications that are necessary to support BlackBerry's current core business operations and a set of non-core patent families relating to mobile devices, primarily standards essential patents. The newly announced deal needs to obtain Canadian and U.S. regulatory approvals.
"While those in the industry know this process has been running for some time, stated Ed Fish, co-Founder and Managing Director of Tech+IP Advisory, what is noteworthy is the quality of these patents -- important to many markets but non-core to BlackBerry's business – and the robust, long-term process we spearheaded with the internal BlackBerry team that was able to withstand the serial shocks of the war in Ukraine, post-COVID disruptions, inflation, and a significant uncertainty regarding liquidity in the markets capped by prominent U.S. and global bank failures."
Elvir Causevic, co-Founder and Managing Director of Tech+IP added: "The uncorrelated nature of IP transactions explains our PE clients' recent interest in IP deals like never before. We believe there is a narrow window for large patent owners to smartly spin-off their legacy IP investments and redeploy that new capital into current technology acquisitions at historically attractive valuations, or into other high-ROI corporate initiatives."
The team at Tech+IP leading the firm's advisory role for BlackBerry also included Bojan Marijanovic, Adi Hrustanovic, Chuck Fish and numerous others. Sullivan & Cromwell served as legal counsel for BlackBerry, and Shearman Sterling for Tech+IP' in its first fairness opinion portion of the work.
About Us
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. Headquartered in the Washington DC area with offices in Europe and Taipei, Tech+IP was founded by the former global co-heads of Tech+IP Advisory for leading independent investment bank Houlihan Lokey.
Contacts: Ed Fish: Ed@techip.cc and Elvir Causevic: Elvir@techip.cc
Tech+IP Advisory is a separate and distinct Company from Tech+IP Capital, LLC, a boutique investment bank focused on M&A and financing involving advanced technology companies. Broker dealer FINRA registrations for Tech+IP Capital, LLC principals are provided through GT Securities, Inc. Member FINRA / SIPC
View original content: https://www.prnewswire.com/news-releases/techip-announces-new-blackberry-patent-deal-to-sell-substantially-all-of-its-non-core-patents-and-applications-301777798.html
SOURCE Tech+IP Advisory, LLC