BlackBerry is considering a restructuring that would see its cybersecurity and IoT divisions continue to operate as separate companies. The company is looking for new investors for its IoT activities.

How is BlackBerry still doing? After the decline of the mobile industry, the company repositioned itself as a cybersecurity and IoT provider. In the event of another restructuring, these two branches would now be split. BlackBerry conducted a review that concluded that a separation was the best strategic choice, the company said in a press release.

The IoT activities would be transferred to a new subsidiary, which would also go public to attract new investors. The cybersecurity area with the highest sales will remain in its current structure. When it comes to IoT, BlackBerry focuses primarily on the automotive industry and counts big names such as BMW, Volkswagen and Volvo among its customers.

“BlackBerry believes that separating our core businesses will improve our ability to create value for all of our stakeholders. Both the IoT and cyber businesses have leading technologies and talent and are pursuing large and growing market opportunities. This new proposed structure will further enhance both their operational agility and their ability to focus on delivering exceptional solutions to their customers,” John Chen, BlackBerry Executive Chair and CE, said in his statement.

BlackBerry exited the smartphone market at the end of 2016. It never managed to digest the transition to smartphones and the Android ecosystem. The desperate attempts by TCL and American startup OnwardMobility to revive the BlackBerry phones turned out to be failures. Today there is no trace left of the once iconic telephone brand.