BlackBerry signs up to $900 million patent deal after sale to Catapult collapses

A Blackberry sign is seen in front of their offices on the day of their annual general meeting for shareholders in Waterloo, Canada June 23, 2015. REUTERS/Mark Blinch

(Reuters) - BlackBerry Ltd said on Tuesday it would sell patents, primarily related to its mobile devices, for up to $900 million after the Canadian software company scrapped an earlier deal with Catapult IP Innovations Inc.

Malikie Innovations Ltd will buy the patents and pay $170 million in cash on deal closing, and another $30 million three years later. BlackBerry will also get annual cash royalties from the profits generated from the patents, relating to its messaging and wireless networking among others.