BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) announced the appointment of Dr. Sandeep Chennakeshu as head of its newly created business unit called BlackBerry Technology Solutions (BTS).
According to Canadian smartphone manufacturer, the BlackBerry Technology Solutions will be composed of its innovative technology assets including the QNX (embedded software), Project Ion (internet of Things application platform, Certicom (cryptography applications) and Paratek (RF antenna tuning) as well as its extensive patent portfolio.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) said Dr.Chennakeshu was the former CTO of Sony-Ericsson. He also served as president of Ericsson Mobile Platforms. He has more than 25 years experience in research, product development, IP creation/licensing and general management in the wireless, electronics and semiconductor industries.
BlackBerry Chairman and CEO John Chen said, “I am very pleased that Sandeep has joined BlackBerry to lead BTS. BlackBerry assets are strategic and technically innovative.” He added, “Combining all these assets into a single business unit led by Sandeep will create operational synergies and new revenue streams, furthering our turnaround strategy.”
According to Chen, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has a global portfolio off 44,000 patents, which are valuable to several industry segments.
About the technology assets of BlackBerry Ltd. (NASDAQ:BBRY) (TSE:BB), Chen said, the QNX, Certicom and Paratek are “strategic and technically innovative assets with significant potential to address the much wider global markets for secure, reliable communications and embedded applications.”
Furthermore Chen emphasized that the 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.
Carmi Levy, an independent technology analyst said BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) showed that it is determined in pursuing other businesses while moving away as a handset manufacturer.
“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, “ said Levy. He also noted that BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) have financial foundation as well as corporate organizational confidence to business segments largely based on intellectual property.
