BlackBerry's (BBRY) Price Target Lowered to $7 at Deutsche Bank

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BlackBerry and Cisco Sign Broad Patent Cross-Licensing Agreement

June 23, 2015 7:31 AM EDT

WATERLOO, ONTARIO and SAN JOSE, CALIFORNIA -- (Marketwired) -- 06/23/15 -- BLACKBERRY Limited (NASDAQ: BBRY)(TSX: BB) and Cisco (NASDAQ: CSCO) today announced that they have entered into a long-term patent cross-licensing agreement covering their respective products and technologies.

As part of the cross-licensing agreement, BlackBerry will receive a license fee from Cisco. Specific terms of the deal are confidential.

"Our agreement with Cisco underscores the value companies place on BlackBerry's broad and... More