So most of the Internet's bandwidth was used up talking about the following two events:
-Sony pulls a Microsoft and buys Bungie for 3+ billion dollars.
-The New York Times
purchases lockdown darling Wordle for somewhere between 1 and 4 million dollars.
...but there were two
other purchases that I think need to be talked about, too:
-Citrix to be acquired by
TIBCO, which is itself owned by private equity firm(s?)
Vista Equity Partners (and
Evergreen Coast Capital?), taking Citrix private. Ok whatever a tech company ate another tech company it happens all the time. But what concerns me is that it was a deal where they paid
a 30% premium in cash over the going stock price. THIS is what concerns me. Why do they want to buy Citrix SO MUCH that they paid the kind of premium you usually associate with the current home-buying climate for that privilege?
-Blackberry sells its patents for $600 million to "Catapult Innovations, Inc." Just the patents. To a company that didn't really even exist until they showed up to buy the patents. And
as someone else so aptly put it:
If the name "Catapult IP Innovations" didn't give it away, weaponizing BlackBerry's patents is the most obvious outcome of this deal. According to the press release, Catapult's funding for the $600 million deal is just a $450 million loan, which will immediately be given to BlackBerry in cash. The remaining $150 million is a promissory note with the first payment due in three years. That means Catapult is now a new company with a huge amount of debt, no products, and no cash flow. Assuming the plan isn't to instantly go bankrupt, Catapult needs to start monetizing BlackBerry's patents somehow, which presumably means suing everyone it believes is in violation of its newly acquired assets.
I can't wait until patent trolling is declared illegal, by which I mean if the patent isn't protecting something your company actually
does, then you simply shouldn't be allowed to have it.
--Patrick