BlackBerry reviewing strategic alternatives for its portfolio of businesses
By The Canadian Press on May 2, 2023.
TORONTO – BlackBerry Ltd. has launched a review of strategic alternatives for its portfolio of businesses. The company says the possibilities include, but are not limited to, the separation of one or more of its operations. BlackBerry executive chairman and chief executive John Chen says the review aims to identify and evaluate opportunities to further enhance shareholder value. The company says the board has not set a timetable for completing the review and that there could be no assurance that the process will result in any transaction. BlackBerry signed an agreement in March with Malikie Innovations Ltd., a newly formed subsidiary of Key Patent Innovations Ltd., to sell a portfolio of what it says are non-core patents in a deal that could be worth up to US$900 million. The portfolio being sold includes about 32,000 patents and applications relating primarily to mobile devices, messaging and wireless networking. This report by The Canadian Press was first published May 2, 2023. Companies in this story: (TSX:BB) 9-8
