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BlackBerry squashes plan to spin out its IoT biz The Register

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.
It hoped to find a new and profitable path after years of unsuccessful efforts to have its enterprise messaging and security offerings find favor among automakers and other audiences.
News of the plan to bifurcate instead of break up came as the biz also named John J. Giamatteo as its new CEO. Long-time CEO John Chen announced his retirement in October and left the building in November.
Giamatteo has bossed BlackBerry's cyber security biz since 2021, having previously held senior leadership positions at security outfits McAfee and AVG Technologies.


This Cyber News was published on go.theregister.com. Publication date: Tue, 12 Dec 2023 08:43:06 +0000


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