2023-10-05 13:14:20
October 5, 2023 Today at 3:13 p.m.
BlackBerry wants to split in two. It plans to separately IPO its software division dedicated to securing connected devices, i.e. the “Internet of Things (IoT)”.
With its famous precursor to the smartphone, BlackBerry, formerly known as Research in Motion, was once a mainstay in office electronics. However, with the advent of the iPhone, its sales have declined drastically. Last year, the company decided to abandon its telephone branch.
BlackBerry reinvented itself as security specialist. He has worked for several years in cybersecurity and the protection of connected devices, more commonly referred to as the “Internet of Things” (IoT).
The company now plans to distinguish these two security branches and introduce the IoT division listed on the stock exchange separately next year. According to CEO John Chen, this approach aims to increase the specialization and operational flexibility of each sector.
132 millions
dollars
During the second quarter, BlackBerry recorded revenue of $132 million.
Read also
Divide and conquer: why Big Pharma loves spin-offs
Value the asset
An influential factor is that the structure of a holding company is often not fully recognized at its fair value on the stock market. Highlighting the visibility of different activities must return true value more concrete for shareholders.
Last week, BlackBerry announced second quarter results. The company recorded a turnover of 132 million dollars, compared to 168 million the previous year. Cybersecurity represented 79 million of this turnover and IoT 49 million.
1696520675
#BlackBerry #vise #une #IPO #division #Internet