BlackBerry announced the split of its IoT and cybersecurity businesses, and the two departments will operate independently

BlackBerry announced today that its IoT and cybersecurity business units will operate independently and plans an initial public offering for its IoT subsidiary

This site learned from BlackBerry officials that the company stated that the board of directors and its advisors Morgan Stanley and Perella Weinberg Partners (PWP) have been evaluating a series of comprehensive strategic alternatives to enhance shareholder value, including possible business separation and A range of potential sales structures. As the current process proceeds, and with the support of management, the Board of Directors has determined to separate the IoT and Cybersecurity business units into two independently operating entities.

According to reports, the main goal of the shady spin-off business is to conduct an initial public offering for the Internet of Things subsidiary, and the goal is to achieve this plan in the first half of the next fiscal year. BlackBerry said the IoT subsidiary will allow shareholders to more clearly assess the performance and future potential of BlackBerry's main businesses on an independent basis, while allowing each business to pursue its own unique strategy and capital allocation policy.

BlackBerry Executive Chairman and CEO John Chen said: "The Board and management believe thatSeparating the principal businesses will enhance the company's ability to create value for all stakeholders." He added : "Both the (BlackBerry) IoT and Networks businesses have leading technology and talent and capture large and growing market opportunities. This new proposed structure will further increase the company's operational flexibility and focus on delivering services to customers." The ability to provide excellent solutions."

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