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BlackBerry to Sell Mobile Patents for $600M

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BlackBerry on Monday said that it will sell its patents principally related to mobile devices, messaging, and wireless networking to a special purpose corporation created to buy the company’s patent portfolio for $600 million.

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The company stated that the deal with Catapult IP Innovations will have no effect on customers’ use of its products or services.

The patent sale is the final nail in the coffin for BlackBerry’s smartphone services, which originally gained traction in the early 2000s with phones that included built-in QWERTY keyboards and email and the Messenger functionality. The deal comes just weeks after Blackberry’s smartphone services were cut off.

Before the iPhone upended the whole business in 2007, the mobile company, along with Windows Mobile and Nokia, was one of the major players in mobile.

BlackBerry didn’t completely overhaul its OS until 2013, with the touch-focused10 OS, but it was far too late by then. When the BlackBerry Priv, the firm’s first Android phone, was released in 2015, the business abandoned BlackBerry OS development.

The company stated that patents linked to the company’s current core business operations, which now include cybersecurity services and automotive software, are not included in the deal.

When the transaction is completed, Blackberry will get $450 million in cash and a $150 million promissory note.

The deal might take up to 210 days to complete.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

FG Gives Banks, Telcos Six-Month Deadline to Resolve N250Bn USSD Debt

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Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.

FG Gives Banks, Telcos Six-Month Deadline to Resolve N250Bn USSD Debt

The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.

They also ordered that post-API debts be settled before December 31, 2024.

The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”

The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.

The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.

“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.

“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.

“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”

According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.

CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.

The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.

This implies that any session lasting less than ten seconds will not be billable.

The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”


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Telecom

NCC Launches Initiative to Combat Fraud, Spam Messaging

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Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.

NCC Launches Initiative to Combat Fraud, Spam Messaging

The telecom regulator made this announcement in a statement.

The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.

The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.

The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.

However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.

“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.

The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.

“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”

The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.

 

 

 

 


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Telecom

Airtel Africa to Return $100m to Shareholders via Share Buyback

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Airtel Africa, a provider of telecommunications and mobile money services, has announced the commencement of a second share buyback programme that will return up to $100m to shareholders.

Airtel Africa to Return $100m to Shareholders via Share Buyback

The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.

Furthermore, the buyback remains in line with the Company’s existing capital allocation policy.

According to the company, the programme will be executed in accordance with applicable securities laws and regulations.

The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025.

The first tranche will amount to a maximum of $50m.

The Company has entered into an agreement with Barclays Capital Securities Limited (Barclays) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays.

Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.

The sole purpose of the buy-back programme is to reduce the capital of the Company.

It noted that as such, all shares purchased under the buy-back programme will be cancelled.

In a statement signed by Simon O’Hara, group company secretary, the company noted that the share repurchase process will adhere to pre-set parameters agreed upon with Barclays Capital Securities Limited (Barclays), the executing partner for the first tranche of the buyback programme.

This partnership ensures that purchases are conducted transparently and in compliance with all regulatory requirements.

The buyback will be executed under the authority granted by shareholders during the Annual General Meeting held on July 3, 2024, which permits the repurchase of up to 374,141,187 ordinary shares.

Following the completion of a prior buyback programme, the remaining authority allows for the acquisition of up to 328,842,995 shares.

Additionally, Airtel Africa confirmed its commitment to adhering to the Financial Conduct Authority’s UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK domestic law.

The company also clarified that share purchases may occur during closed periods, consistent with these regulations and the agreed parameters.

 

 

 

 

 

 

 

 

 


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