In a recent announcement, BlackBerry has named John Giamatteo as the new CEO of their Cybersecurity business unit, as part of their previously announced restructuring plan. However, the company has also revealed that they have abandoned their original plan to take their IoT (Internet of Things) business unit public.
It is important to note that BlackBerry no longer operates in the mobile phone industry. Their main focus now lies in providing Cybersecurity services and IoT solutions, which they acquired through the purchase of QNX, an operating system used in cars and industrial robots.
Although the IoT business unit IPO plan has been canceled, BlackBerry has decided to separate their Cybersecurity and IoT businesses. This move allows each business to operate independently and make decisions that will drive revenue growth and profitability.
TLDR: BlackBerry has appointed John Giamatteo as the new CEO of their Cybersecurity business unit. They have abandoned their plan to make their IoT business public but will continue to focus on their Cybersecurity and IoT businesses separately, aiming for revenue growth and profitability.
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