BlackBerry is evaluating strategic options for its business

May 1 (Reuters) – BlackBerry (BB.TO) will conduct a review of strategic alternatives, which includes the possible divestiture of one or more of its businesses, the Canadian tech company said on Monday.

The company’s U.S.-listed shares were up nearly 11% in after-the-bell trading.

BlackBerry, which was founded in 1984 and built pagers, said it did not set a timeline for the process and does not intend to disclose developments related to the review unless the board approves a specific arrangement or terminates the process.

The company went public in 1997 and soon became famous for its ubiquitous business smartphones, worn by executives, politicians and legions of fans in the early 2000s. It went out of business last year and has been trying to sell off its legacy patents related to its mobile devices ever since.

BlackBerry said Monday it will proceed with the previously announced sale of the patents to Malikie Innovations Limited for up to $900 million after its previous deal to sell it to Catapult IP Innovations Inc for $600 million fell through. as it took longer than usual to graduate.

Malkie is a newly formed unit of intellectual property monetization firm Key Patent Innovations Ltd.

Once known for its phones with a tiny physical QWERTY keyboard and the BBM instant messaging service, BlackBerry’s core businesses are now cybersecurity and software used by automakers.

Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber

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