Decoder.ca

Canadian Tech in 100 Words

BlackBerry

BlackBerry Announces Leadership Changes as Company Executes on Latest Strategy

by

Amid “a series of leadership changes,” BlackBerry has appointed Tim Foote as Chief Financial Officer, succeeding Steve Rai. Foote, who joined BlackBerry in 2015, brings over 20 years of finance experience, including roles in international finance and investor relations. The new CFO, who will report to chief executive John Giamatteo, says BlackBerry is “driving towards profitability.”

Additionally, Jay Chai has been named Chief Accounting Officer, while Fraser Deziel was promoted to Corporate Controller. These changes aim to streamline BlackBerry’s finance operations as the struggling organization—its stock price has been cut in half over the past year—executes on a strategy to establish two distinct divisions: Cybersecurity and IoT.

Want to know more? Check out the source code here.

BlackBerry and AMD Team Up to Innovate in Robotics Sector

by

BlackBerry, the renowned Waterloo-based software company, has announced a strategic collaboration with chip powerhouse AMD to enhance robotics reliability in industrial and healthcare sectors. This partnership boosted BlackBerry shares by over seven percent, reflecting investor confidence.

Under CEO John Giamatteo, BlackBerry is actively diversifying, with a keen interest in medical technologies and autonomous mobile robots. The company’s QNX software platform has recently been chosen by a leading medical equipment manufacturer for a new imaging device and for use in a surgical robot. This move signifies BlackBerry’s pivotal role in advancing critical technologies in healthcare and industrial automation.

Want to know more? Check out the source code on The Logic.

BlackBerry to Reduce Cybersecurity Staff, Aiming for $27 Million in Savings

by

Waterloo-based BlackBerry is set to make additional reductions in its cybersecurity division this quarter, aiming to save USD $27 million annually. This move is a strategic effort to increase the company’s annualized net profit by USD$100 million.

These upcoming cuts follow the elimination of 200 jobs in the same division last quarter. In a bid to further reduce costs, BlackBerry is also closing six of its 36 offices and implementing other workforce reductions. Despite shelving plans to take its Internet-of-Things division public, the company is preparing its IoT and cybersecurity divisions to operate independently, with new executive appointments. Following these announcements, BlackBerry’s shares experienced a nearly four percent decline on Tuesday.

Want to know more? Check out the source code on The Logic.

BlackBerry Announces Strategic Split for Enhanced Value

by

BlackBerry has shared an update on “Project Imperium,” their portfolio review. The Board, assisted by advisors, Morgan Stanley and Perella Weinberg Partners, is considering strategic options to enhance shareholder value.

The prime decision is to split IoT and Cybersecurity units into separate entities for better evaluation and strategic focus. A subsidiary IPO is planned for IoT, a market leader in foundational automotive software, targeted for the first half of the next fiscal year.

BlackBerry aims to enhance stakeholder value through this separation.

Want to know more? Check out the source code on Newswire.ca. Image: University of Waterloo.