Shares of the Canadian technology company listed in the US rose 11% in trading on the same day following the announcement.
“Blackberry” was founded in 1984 and initially manufactured pagers. The company also said that it has not set a specific timeline for the split and will announce details of the related developments after the board of directors approves a specific agreement or the process is completed.
BlackBerry went public in 1997 and quickly became famous for its business-oriented smartphones, embraced by executives, politicians and building a large fan base in the early 2000s.
However, the company decided to stop its phone business last year, moving to gradually sell off patents related to mobile devices.
Also on May 1, BlackBerry said it would continue to sell previously disclosed patents to Malikie Innovations Limited for $900 million, after a deal to sell the intellectual property rights to Catapult IP Innovations Inc for $600 million fell through due to negotiations taking longer than expected.
Once known for its legendary QWERTY physical keyboard smartphones and BBM instant messaging service, the Canadian tech company's core businesses today are largely cybersecurity and software for automakers.
(According to Reuters)
Source
Comment (0)