Blackberry to Separate IoT, Cybersecurity Businesses
The company is backtracking on plans to split its IoT and cybersecurity arms into separate companies
BlackBerry is reneging on its plan to divide its IoT and cybersecurity arms into two different companies.
The initial plan, announced in October, suggested separating its 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.
Now, a company announcement said BlackBerry will instead separate the IoT and cybersecurity business units to become “fully standalone” BlackBerry divisions.
The announcement follows the completion of BlackBerry’s Project Imperium, a review into the company’s operations to increase shareholder value and sustainable growth.
While initially the review recommended making IoT and cybersecurity separate entities, a reassessment has seen a reversal of the decision.