BlackBerry plans to sell the majority of its commercial real estate portfolio in Canada to bolster its financial position.
The Canadian company said Tuesday that the real estate holdings, comprising more than 3 million square feet of space, would be sold through a combination of sale-leaseback and vacant asset sales.
Despite the sales, BlackBerry Chief Executive John Chen said the company "remained committed to being headquartered in Waterloo and having a strong presence in Canada.
"This initiative will further enhance BlackBerry's financial flexibility, and will provide additional resources to support our operations as our business continues to evolve."
The company said it would not comment on the potential value of a sale and would disclose further information "as required" in connection with any definitive sale transaction.