BlackBerry to Separate IoT and Cybersecurity Arms

The company says its decision was motivated by a need to increase shareholder value

Scarlett Evans, Assistant Editor, IoT World Today

October 9, 2023

1 Min Read
BlackBerry to separate its IoT and cybersecurity business units

BlackBerry says it will separate its Internet of Things (IoT) and cybersecurity business units, with a target to pursue an initial public offering (IPO) for its IoT arm in the first half of the next fiscal year.

According to a company statement, the decision is motivated by the need to “drive enhanced shareholder value.”

“The board and management believe that separating our principal businesses will improve our ability to create value for all our stakeholders,” said John Chen, BlackBerry’s CEO “Both the IoT and cyber businesses have leading technology and talent and address large and growing market opportunities. 

“This new proposed structure will further increase both their operational agility and ability to focus on delivering exceptional solutions to their customers.”

The decision follows a months-long company strategic review alongside its advisors Morgan Stanley and Perella Weinberg Partners.

Further details on the timeline of the planned separation have not been disclosed.

According to BlackBerry’s financial earnings report, its IoT and cybersecurity business units garnered $49 million and $79 million, respectively, of the company’s $132 million second-quarter fiscal 2024 revenue.

About the Author(s)

Scarlett Evans

Assistant Editor, IoT World Today

Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.

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