BlackBerry To Split Into Two, Take IoT Business Public Next Year

(RTTNews) - BlackBerry Limited (BB, BB.TO) said it plans to separate the internet of things or IoT and Cybersecurity business units into two independently-operated entities.

The company noted that the main objective of the separation is to pursue a subsidiary initial public offering for the IoT business, with a launch targeted in the first half of the next fiscal year.

BlackBerry believes that a separately-traded IoT subsidiary will enable shareholders to more clearly evaluate the performance and future potential of BlackBerry's principal businesses on a standalone basis, while allowing each business to pursue its own distinct strategy and capital allocation policy.