Equity Firm Looks to Take BlackBerry Private
BlackBerry has signed preliminary paperwork with a consortium of equity companies that could lead to the company going private, reports the Globe and Mail. Fairfax Financial Holdings has cobbled together a handful of companies and offered $9 per share for BlackBerry, valuing the smartphone maker at about $4.7 billion. "BlackBerry has fallen on hard times recently, but we have every confidence it will be successful again," said Fairfax CEO Prem Watsa. "We're trying to make sure it remains in whole in Canada. We're looking at any possibility for the good of the company, its customers and its employees." BlackBerry announced that it is exploring strategic options for the business following poor adoption of its BlackBerry 10 platform.
BlackBerry CEO Says Smartphone Biz Is On a Timer
John S. Chen, CEO of BlackBerry, admitted that its recent handsets have not sold as well as he hoped.
BlackBerry Cutting More Jobs, Including Device Team
BlackBerry announced another round of job cuts on Friday, this time affecting those behind making the company's smartphones and mobile applications. BlackBerry did not say how many employees will lose their jobs, nor in which facilities, but said the cuts will reach its operations across the globe.
BlackBerry Trims More Workers
BlackBerry has cut an unspecified number of employees at two facilities. The company confirmed that it let employees go at its Waterloo headquarters, as well as at a plant in Sunrise, Fla.
BlackBerry and Cisco Forge Patent Cross-Licensing Pact
BlackBerry and Cisco today announced that they have signed a long-term patent cross-licensing agreement. The agreement applies to a number of products and technologies, though the companies didn't specify which ones.
BlackBerry CEO Says 2016 May Be Last Year for Smartphones
BlackBerry CEO John S. Chen today said its smartphone business needs to generate a profit in 2016, "Otherwise, I have to think twice about what I do there." Chen's comments offer more insight into BlackBerry's frame of mind regarding smartphones.
ahh the heck with it...let the "its about time" speeches begin