(Reuters) – BlackBerry said on Monday it will conduct a review of strategic alternatives, which include the possible separation of one or more of the company’s businesses.
The Canadian technology company’s US-listed shares rose 7% in trading after the bell.
BlackBerry said it has not set a timeline for the process and does not intend to disclose developments related to the review unless the board has approved a specific agreement or has ended the process.
The company added it will continue with the previously announced sale of substantially all of its non-core patents and patent applications related to is mobile devices to Malikie Innovations Limited, a newly formed unit of intellectual property monetization firm Key Patent Innovations Ltd.
Once known for its phones with a tiny QWERTY physical keyboard and the BBM instant messaging service, BlackBerry’s core businesses today are cybersecurity and software used by automakers.
(Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)
