BlackBerry (NASDAQ:BBRY) launched a new business unit to manage its patent portfolio and combine some of its top technologies. The unit, which will called BlackBerry Technology Solutions, or BTS, includes its QNX software for embedded wireless systems, its "Project Ion" Internet of Things application platform, Certicom cryptography applications and Paratek RF antenna tuning. The company said the new unit will be led by Sandeep Chennakeshu, who previously served as the president of Ericsson (NASDAQ: ERIC) Mobile Platforms and CTO of Sony Ericsson. BlackBerry said Chennakeshu has been engaged in research, product development, intellectual property creation/licensing and general management in the wireless, electronics and semiconductor industry for more than 25 years.
BlackBerry CEO John Chen said in a statement that the technologies housed in the BTS unit are "strategic and technically innovative assets with significant potential to address the much wider global markets for secure, reliable communications and embedded applications." The new unit, he said, "will create operational synergies and new revenue streams, furthering our turnaround strategy." Release