BlackBerry Ltd BB shares are trading higher. The company announced a patent sale worth up to $900 million Tuesday morning. What Happened: BlackBerry entered into an agreement to sell substantially all of its non-core patents and patent applications to Malikie Innovations for cash at the closing of the deal, as well as potential future royalties. BlackBerry is set to receive $170 million in cash on closing and an additional $30 million in cash no later than three years from the closing date. The royalties include 8% of the first $500 million in profit, 15% of the next $250 million, 30% of the following $250 million and 50% of all subsequent profits, capped at $700 million total. BlackBerry will sell approximately 32,000 patents and applications, primarily related to mobile devices, messaging and wireless networking. The company will receive a license back to the patents being sold.