BlackBerry to weigh separating some businesses in review; shares rally

Shares of BlackBerry Ltd. BB, +0.97% rallied after hours on Monday after the security software provider said its board would begin a review of the company’s business segments — a move intended to help the board weigh strategic alternatives, including “the possible separation of one or more of BlackBerry’s businesses.” The company said the move was intended to “evaluate opportunities to further enhance shareholder value.” Shares rose 7.5% after hours. The board has not set a timeline for completing the review, and doesn’t plan to disclose progress until it reaches a specific deal or ends the review. BlackBerry said there was no guarantee that the review would end in a transaction. The company said it would move ahead with the sale of virtually all of its non-core patents and applications to Malikie Innovations Limited.