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BlackBerry has been working hard over the past year to end its financial woes. An internal memo circulated in the company was leaked recently which revealed that the layoff process has been completed and BlackBerry is now on growth footing once again. The company is also working on diversifying its revenue streams and a new business unit might aid it in that objective. The company today announced the creation of BlackBerry Technology Solutions, or BTS.

Under BlackBerry Technology Solutions the company has combined its strong patent portfolio, a handful of software projects and its technology assets. The portfolio includes over 44,000 patents and the software projects include BlackBerry’s Internet of Things platform, QNX, cryptography applications, RF antenna tuning and more.

Leading this new business unit is Dr. Sandeep Chennakeshu who has been involved in relevant technology sectors for over two decades, serving as CTO at Sony Ericsson and the president of Ericsson Mobile Platforms.

The company isn’t wasting any time in getting the ball rolling. Dr. Chennakeshu will be immediately starting at the company. According to CEO John Chen this decision will “create operational synergies and new revenue streams.”

BlackBerry still has to gain a lot of lost ground in the smartphone market, the company aims to make amends by launching the Passport and the Classic in the coming months.

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