BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) created a new business unit called BlackBerry Technology Solutions (BTS), which will be composed of its innovative technology assets and extensive patent portfolio.
According to the Canadian mobile communications company, some of its technology assets under the BlackBerry Technology Solutions included the QNX (embedded software), Project Ion (internet of Things application platform, Certicom (cryptography applications) and Paratek (RF antenna tuning).
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BlackBerry names Dr. Sandeep Channakeshu to lead BTS
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) also announced that appointment of Dr. Sandeep Chennakeshu as head of the BlackBerry Technology Solutions.
According to the company, Dr.Chennakeshu is a fellow of the Institute of Electrical and Electronics Engineers (IEEE) and he invented 73 patents. He has been engaged in research, product development, IP creation/licensing and general management in the wireless, electronics and semiconductor industries for more than 25 years.
Dr. Chennakeshu previously served as president of Ericsson Mobile Platforms and CTO of Sony-Ericsson.
In a statement, John Chen, chairman and chief executive officer of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) said, “I am very pleased that Sandeep has joined BlackBerry to lead BTS. Our broad global portfolio of 44,000 patents are of value to several industry segments. Combining all these assets into a single business unit led by Sandeep will create operational synergies and new revenue streams, furthering our turnaround strategy.”
BlackBerry assets are strategic and technically innovative
Chen emphasized that the QNX, Certicom and Paratek technologies of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) are “strategic and technically innovative assets with significant potential to address the much wider global markets for secure, reliable communications and embedded applications.”
He added that Project Ion application platform allows secure and collaborative machine to machine communication required by an increasing number of end-to-end, internet of things applications.
New business unit positive for BlackBerry
Commenting on BlackBerry’s newly created business unit, Carmi Levy, an independent technology analyst said the Canadian mobile communications company demonstrated its aggressiveness in pursuing a different business as it moves away as a handset vendor.
According to Levy,”This is probably the most-tangible evidence yet of the company’s transition into something very different than it was even a year or two ago.”
He added that the new business unit suggests that BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) have financial foundation and corporate organizational confidence to business areas largely based on its intellectual property, and it is now less dependent on its handset unit to generate revenue.
Furthermore, Levy believed that the new business unit is positive for BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB). He said, “It’s fair to say that much of the company’s transition over the last couple of years has been judged based on criteria that don’t reflect the full breath of the business. It is not simply a company that makes smartphones; it is a company that has a rich legacy of creating and marketing intellectual property.”