BlackBerry To Pursue Full Separation Of IoT And Cybersecurity Business Units; Will No Longer Pursue Subsidiary IPO Of IoT Business
Portfolio Pulse from Benzinga Newsdesk
BlackBerry has announced its intention to fully separate its IoT and Cybersecurity business units. The company has also decided not to proceed with the previously considered IPO of its IoT business as a subsidiary.
December 11, 2023 | 1:02 pm
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BlackBerry's decision to separate its IoT and Cybersecurity units and cancel the IPO for its IoT business could lead to a short-term negative reaction from investors who were anticipating the IPO.
Investors may view the cancellation of the IoT IPO as a negative development, potentially because it could have provided a cash influx and a way to unlock value. The full separation of business units may also lead to uncertainty regarding the future structure and financial health of the company.
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