BlackBerry said it will conduct a review of strategic alternatives, which includes the possible separation of one or more of its businesses.
BlackBerry’s revenue was $151 million in Q4 fiscal 2023 and $656 million for full fiscal 2023. BlackBerry has generated revenue of $88 million from Cybersecurity; $53 million from IoT; and $10 million from Licensing & Other revenue.
BlackBerry’s core businesses today are cybersecurity and software used by automakers
Canada-based BlackBerry said it has not set a timeline for the process and does not intend to disclose developments related to the review unless the board has approved a specific agreement or has ended the process.
The company went public in 1997 and soon became popular for its ubiquitous business smartphones, which were toted by executives, politicians and legions of fans in the early 2000s. BlackBerry pulled the plug on the smartphone business since it lost significant share. BlackBerry has since been trying to sell its legacy patents related to its mobile devices.
BlackBerry said on Monday it will continue with the sale of the patents to Malikie Innovations for up to $900 million.
BlackBerry was popular for its smartphones with a QWERTY physical keyboard and the BBM instant messaging service.
