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11-04-2013, 11:23 AM #1
BlackBerry Officially Off The Market
Well, that was fast.
BlackBerry is no longer in search of a buyer. But that doesn't mean it found one.
The Canadian smartphone-maker is taking a different course now that it has agreed to receive a hefty investment from Fairfax Financial and other investors, representing the conclusion of its process of seeking strategic alternatives for taking the company forward.
According to published reports Monday, Fairfax wanted to acquire BlackBerry outright, but “plan B” - which calls for BlackBerry to gain a huge infusion of financial backing - is moving ahead.
Instead of purchasing BlackBerry and taking it private, the largest shareholder, Fairfax Financial Holdings, and an unnamed group of institutional investors will invest $1 billion through debentures that can be converted into common shares at a price of $10 a share.
“Though it’s achieved some traction with enterprises upgrading their BlackBerry servers, it has failed to sell many BlackBerry 10 devices, and this looks unlikely to change," the analyst concludes. "This ultimately harms the unique selling point of BlackBerry server products leaving the door open to replacement by rivals that are better able to support the more popular Apple and Android devices.”
It's also too much to expect BlackBerry’s other software investments to ramp up fast enough to secure its long-term survival and return to growth.
In early trading this morning, shares of BlackBerry were down 12%.
Source: New York Times
11-04-2013, 11:36 AM #2
Man what's up with these non-Apple related stories on an Apple forum?...Sent from my iPhone 4.
11-04-2013, 11:38 AM #3
11-04-2013, 12:11 PM #4
11-04-2013, 12:50 PM #5
11-04-2013, 12:52 PM #6
Apple makes phones, BB makes phones. It is BIG new no matter how you look at it. I know BB has been on the decline for years and no one expected any different...yet its still BIG hahaha!
11-04-2013, 01:15 PM #7
11-04-2013, 01:39 PM #8
Yay BlackBerry is gone!!!!!!
11-04-2013, 01:44 PM #9
Would be a big deal like 7 years ago but since there irrelevant this is pointless
11-04-2013, 06:35 PM #10
This sucks man. If we had more companies pushing apple to innovate more we would be all be better off...
11-05-2013, 08:01 AM #11