BlackBerry aiming for June IPO for Internet of Things business: CEO
BNN Bloomberg
The head of BlackBerry Ltd. says he's hoping for June timing on the initial public offering the company has planned for its Internet of Things business.
The forthcoming IPO will carve BlackBerry into two business units, dividing its cybersecurity operations from its internet of things offerings.
The Waterloo, Ont.-based technology company has been evaluating a range of strategic alternatives to enhance shareholder value since May.
The company lost US$42 million in the second quarter of its 2024 fiscal year as revenue from Internet of Things rose four per cent while cybersecurity revenue was down 40 per cent.
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