- BlackBerry Ltd. (BB) said it would conduct a review of strategic alternatives, which include the possible separation of one or more of its businesses
- The possibilities include, but are not limited to, the separation of one or more of its operations
- The company is also pushing ahead with sale of substantially all of its non-core patents and patent applications to Malikie Innovations Ltd.
- BlackBerry (BB) opened trading at C$5.26 per share
BlackBerry Ltd. (BB) said it would conduct a review of strategic alternatives, which include the possible separation of one or more of its businesses.
The Waterloo-based tech company stated that the possibilities include, but are not limited to, the separation of one or more of its operations.
BlackBerry executive chairman and CEO John Chen said the review aims to identify and evaluate opportunities to further enhance shareholder value.
“Although we expect achievement of this plan to deliver significant shareholder benefits, we do not believe that this is fully reflected in the market’s current valuation of the company.”
No timeline has been set for completing the review and there is no guarantee that the process will result in any transaction.
The company is also pushing ahead with sale of substantially all of its non-core patents and patent applications to Malikie Innovations Ltd., a new subsidiary of Key Patent Innovations Ltd., to sell a portfolio of non-core patents in that could be worth up to US$900 million.
Back in March it was revealed that the portfolio being sold includes roughly 32,000 patents and applications mainly relating to mobile devices, messaging, and wireless networking.
BlackBerry leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy.
BlackBerry (BB) opened trading at C$5.26 per share and has risen 29 per cent since the year began.
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