The Waterloo, Ont.-based company said it wants to separate its internet-of-things division, which includes its automotive software business, to pursue an initial public offering. The move to list the IoT division and make its cybersecurity division independent will let investors better assess BlackBerry’s potential, the firm said. (The Logic)
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The Waterloo, Ont.-based company said it wants to separate its internet-of-things division, which includes its automotive software business, to pursue an initial public offering. The move to list the IoT division and make its cybersecurity division independent will let investors better assess BlackBerry’s potential, the firm said. (The Logic)
Talking point: Prior to this announcement, the iconic Canadian smartphone pioneer was reportedly fielding takeover offers. The company had been considering splitting its business as part of a strategic review, announced in May, as it sought to reignite investors’ interest. Its business has languished amid slow cybersecurity deal making and auto production delays. BlackBerry said its IoT division would likely go public in the next 11 months, and that the plan was supported by the company’s board, management and advisers. BlackBerry shares fell over 11 per cent on the Toronto Stock Exchange Thursday.
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