BlackBerry announces split of Internet of things and network security business, and the two departments will operate independently

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com October 5 news, BlackBerry announced today that the Internet of things and network security business units will operate independently in the future, and will conduct an initial public offering for the Internet of things subsidiary.

CTOnews.com learned from BlackBerry officials that the board and its advisers Morgan Stanley and Perella Weinberg Partners (PWP) had been reviewing a range of comprehensive strategic alternatives to increase shareholder value, including a possible business separation and a range of potential sales structures. According to the current process and with the support of management, the board of directors decided to separate the Internet of things and network security business units into two independent entities.

According to reports, the main goal of the black-screen split business is to conduct an initial public offering for the Internet of things subsidiaries, and the goal is to achieve this plan in the first half of the next fiscal year. BlackBerry said the Internet of things subsidiary would enable shareholders to assess more clearly 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.

"the board and management believe that the separation of key businesses will improve the company's ability to create value for all stakeholders," said John Chen, BlackBerry's executive chairman and chief executive. He added: "BlackBerry's Internet of things and Internet businesses have leading technology and talent, and seize huge and growing market opportunities. this new proposed structure will further enhance the company's operational flexibility and its ability to focus on providing superior solutions to customers."