FILE PHOTO - A sign stands at Blackberry's Network Operating Centre (NOC) in Waterloo, Ontario, Canada, May 29, 2018. REUTERS/Mark Blinch

(Reuters) - BlackBerry Ltd is in talks to buy cybersecurity company Cylance Inc for as much as $1.5 billion, Business Insider reported on Friday, citing sources familiar with the matter.

Irvine, California-based Cylance develops AI-based products to prevent cyberattacks on companies and recently considered filing for an IPO, according to the report. (read.bi/2SYzvM9)

A deal could be announced as soon as next week, Business Insider reported citing sources, who cautioned the deal could still fall apart.

BlackBerry and Cylance did not immediately respond to requests for comment.