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Blackberry Businesses

BlackBerry Will Sell Itself For $4.7 Billion 149

Posted by samzenpus
from the circle-of-business dept.
Nerval's Lobster writes "A consortium led by financial-holding company Fairfax Financial has agreed to acquire BlackBerry for $4.7 billion. Under the terms of the agreement, Fairfax Financial will acquire every BlackBerry stock-share it doesn't already own. Further details are pending, including future management structure and whether BlackBerry will continue with its stated intent to lay off thousands of employees over the next few months. 'The Special Committee is seeking the best available outcome for the Company's constituents, including for shareholders,' Barbara Stymiest, chair of BlackBerry's Board of Directors, wrote in a statement. 'Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium.' A special committee formed by BlackBerry's Board of Directors had spent the past few weeks looking for a potential acquirer. BlackBerry has seen its market-share crumble as businesses and consumers embrace rivals such as Apple's iPhone and Google Android devices."
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BlackBerry Will Sell Itself For $4.7 Billion

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  • Re:Layoffs? (Score:5, Insightful)

    by Kielistic (1273232) on Monday September 23, 2013 @02:26PM (#44926331)

    Sigh. Not only did that joke stop being funny years ago (if it ever was funny) but RIM is no longer in their name anyway.

  • Re:yayyyy (Score:5, Insightful)

    by ebno-10db (1459097) on Monday September 23, 2013 @02:28PM (#44926369)

    go back to when you were private and cared about product/customer rather than investors and their growth projections.

    Much as I generally agree with you, Blackberry has been losing money at an increasing rate for some time. Privately held companies (of the real kind, not the private equity scam variety) can afford to take more of a long term view, being freed from the shackles of the self-important and absurdly overpaid idiots called stock analysts. Nevertheless, even privately held companies need some prospect of making a profit.

  • Re:Prediction: (Score:4, Insightful)

    by PoliTech (998983) on Monday September 23, 2013 @02:34PM (#44926441) Homepage Journal
    Not to argue, but in a few weeks time I expect something more along the lines of this: "From the desk of S. Balmer: We announced some exciting news today: We have entered into an agreement to purchase Fairfax Financial’s BlackBerry Devices & Services business, which includes their smartphone and mobile phone businesses, their award-winning design team, manufacturing and assembly facilities in Canada, and teams devoted to operations, sales, marketing and support." If MS isn't doing this they are nuts (a possibility to be sure). Adding a BlackBerry acquisition to the Nokia deal would get MS to nearly 20 percent of the smartphone market.
  • Re:Layoffs? (Score:3, Insightful)

    by Kielistic (1273232) on Monday September 23, 2013 @03:49PM (#44927287)
    I'm sorry if I insulted your joke but you really should know that equating jobs at BlackBerry with "RIMjobs" isn't funny. Repeating a joke that is made at least 5 times in every thread about BlackBerry (and even more often when they were still called RIM) is not clever or funny. It is trite and lame. You do not have to resort to trying to insult me. Or propositioning me? I don't know- it wasn't very clear.

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