BlackBerry Cancels Spinoff of Internet-of-Things Unit, Names New CEO
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BlackBerry Ltd. will no longer spin off its its internet-of-things business, a reversal from a previously announced turnaround plan.
BlackBerry will reorganize to keep that business in house alongside its cybersecurity unit, the Waterloo, Canada-based company said in a statement Monday. The decision was made “with a view to each division operating independently and on a profitable and cashflow-positive basis going forward,” it said.