Security News > 2023 > December > BlackBerry squashes plan to spin out its IoT biz

BlackBerry has decided its plan to split into two separate companies is not a good idea and will instead reorganize itself into two independent divisions.

The former smartphone champ has two businesses: cyber security and IoT. Neither has thrived in recent years so, in pursuit of greater shareholder value, the Canadian biz conducted a review it called Project Imperium.

As of October, the determination of the review was that "Separating the IoT and cyber security business units into two independently operated entities is the optimal strategic direction for BlackBerry."

Giamatteo has bossed BlackBerry's cyber security biz since 2021, having previously held senior leadership positions at security outfits McAfee and AVG Technologies.

The freshly minted boss went on to opine that BlackBerry's IoT and cyber security businesses "Have market-leading technology, exceptional teams and large market opportunities."

The announcement ends with an ominous statement: "To assist in the separation and right-sizing process, BlackBerry is in the final stages of selecting a consulting firm to bring expertise and additional resources for an independent, ground-up assessment." .

News URL

https://go.theregister.com/feed/www.theregister.com/2023/12/12/blackberry_cancels_split_plan/