Cylance
 | |
| Company type | Subsidiary[1] |
|---|---|
| Industry | Computer security |
| Founded | 2012 |
| Founder |
|
| Headquarters | , United States |
| Services | Anti-virus, anti-malware |
| Revenue |  $189 Million(2021) |
Number of employees | 760[2] |
| Parent | Arctic Wolf Networks |
| Website | Cylance.com |
Cylance Inc. is an American software firm based in Irvine, California,[3] that develops antivirus programs and other kinds of computer software that prevents viruses and malware.
In February 2019, the company was acquired by BlackBerry Limited for $1.4 billion.[4][5] After the acquisition, it continues to operate as an independent subsidiary and will remain headquartered in Irvine, California.
In December 2024, Arctic Wolf has entered into an agreement with BlackBerry Limited to purchase Cylance.[6] BlackBerry will sell its Cylance assets to Arctic Wolf for $160 million of cash, subject to certain adjustments, and approximately 5.5 million common shares of Arctic Wolf. After allowing for the purchase price adjustments, BlackBerry will receive approximately $80 million of cash at closing and approximately $40 million of cash one year following the closing.[7]
Founding
[edit]Cylance was founded by Stuart McClure and Ryan Permeh in 2012. McClure was previously co-founder of Foundstone, a security consultancy. He sold Foundstone to McAfee in 2004, and became that firm's Chief Tech Officer.[8]
Funding
[edit]A July 2015 report indicated that Cylance had raised $42 million from investors including Draper Fisher Jurvetson, Kohlberg Kravis Roberts, Dell, Capital One, and TenEleven Ventures.[8] It received another $100 million in June 2016 with lead investors Blackstone Tactical Opportunities (part of The Blackstone Group) and Insight Venture Partners.[9] They received an investment from In-Q-Tel in September 2015.[10][11]
Operation Cleaver
[edit]Operation Cleaver was a covert cyberwarfare operation allegedly carried out by the Iranian government against targets worldwide, specifically critical infrastructure entities. Cylance published a report about the operation in late 2014. Iranian officials rejected Cylance's conclusions, but the FBI tacitly confirmed them.[12][13][14]
Controversies
[edit]Malware scandal
[edit]In November 2016, a systems engineer evaluated 48 files of malware samples provided by Cylance for testing their protection system "Protect", and found that 7 of them weren't malware.[15] This led to an accusation that Cylance was using the test to look superior to its opponents by providing files that other products would fail to detect as malware.[16] In response, Cylance executives said that they used repackaged malware samples for testing.
See also
[edit]References
[edit]- ^ "Cylance in Irvine bought by BlackBerry for $1.4 billion". Feb 22, 2019.
- ^ Work, Great Place to. "Working at Cylance". Great Place to Work.
- ^ "Company Overview of Cylance Inc". Bloomberg L.P.
- ^ "BlackBerry to Acquire Cylance and Add Premier AI and Cybersecurity Capabilities".
- ^ "BlackBerry: What the Cylance Acquisition Means for Cyber Business | Fortune".
- ^ "Arctic Wolf and BlackBerry Announce Acquisition Agreement for Cylance". www.blackberry.com. Retrieved 2024-12-17.
- ^ Wolf, Arctic (2024-12-16). "Arctic Wolf and BlackBerry Announce Acquisition Agreement for Cylance". Arctic Wolf. Retrieved 2024-12-17.
- ^ a b Hackett, Robert (Jul 28, 2015). "Cylance raises $42 million for AI-based security software". Fortune Magazine.
- ^ "Cylance Announces $100 Million Series D Funding Round Led by Blackstone Tactical Opportunities and Insight Venture Partners". Wallstreet-online.de. Wallstreet:Online AG. 2016-06-08. Retrieved 2016-11-25.
- ^ "Cylance Announces Strategic Partnership with In-Q-Tel". In-Q-Tel. In-Q-Tel. 2016-02-16. Retrieved 2020-02-17.
- ^ "Cylance". In-Q-Tel. In-Q-Tel. Retrieved 2020-02-17.
- ^ Plummer, Quinten (December 15, 2014). "Operation Cleaver is Bigger Threat than Previously Thought, FBI Warns US Businesses". Tech Times. Retrieved March 30, 2015.
- ^ Bertrand, Natasha (December 8, 2014). "Iran Is Officially A Real Player In The Global Cyber War". Business Insider. Retrieved March 30, 2015.
- ^ Riley, Michael A; Robertson, Jordan (December 2, 2014). "Iran-Backed Hackers Target Airports, Carriers: Report". Bloomberg News. Retrieved March 30, 2015.
- ^ Gallagher, Sean (2017-04-17). "Lawyers, malware, and money: The antivirus market's nasty fight over Cylance". Ars Technica. Retrieved 2022-07-13.
- ^ "Cyber Security Company Cylance Faces Fraud Controversy As Layoffs Continue". SnapMunk. 2017-04-21. Retrieved 2022-07-13.