BlackBerry, a Canadian technology company, announced its plan to separate its Internet of Things (IoT) and cybersecurity business units into two independent entities.

The main objective of the separation is to pursue a subsidiary initial public offering (IPO) for the IoT business.

which is the market leader for high-performance, safety-critical foundational software in automotive and other industries. 

BlackBerry believes that a separately traded IoT subsidiary will enable shareholders to more clearly evaluate the performance and future potential of its principal businesses.

BlackBerry's IoT business designs and creates software that powers more than 235 million vehicles and other devices. 

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