Lazaridis May Team with Cerberus to Pursue BlackBerry
Former BlackBerry CEO and co-founder Mike Lazaridis is close to reaching an agreement with private equity firm Cerberus that would see them make a joint bid for the ailing smartphone maker. According to sources cited by the Wall Street Journal, Lazaridis and another co-founder of BlackBerry, Doug Fregin, may combine their own shares with capital from Cerberus. BlackBerry already has an offer on the table from Fairfax Financial Holdings with a November 4 deadline attached. If no other legitimate offers come through before November 4, Fairfax can move forward with its bid to acquire the company and take it private. Both Cerberus and Lazaridis have previously and separately made noise about making bids for BlackBerry. Several other firms have expressed interest, too, but no solid offers have been made other than the one from Fairfax. The Journal's sources say that while a deal between Lazaridis and Cerberus is a possibility, they may not make a bid in time to beat the November 4 deadline. Following its initial report, the Journal later reported that Qualcomm is talking to Lazaridis and Cerberus, as well.
BlackBerry to Kill Off Smartphone-Making Business
BlackBerry today said it will no longer make and sell its own smartphones. Instead, it will rely on original device manufacturers to design and make devices that will carry BlackBerry branding and software.
BlackBerry Signs Licensing Deal with India's Optiemus
BlackBerry today said it has licensed its smartphone brand to Optiemus, a smartphone maker based in India. The deal represents the third such agreement forged by BlackBerry with other hardware manufacturers.
BlackBerry Weighing Move to Android
BlackBerry is considering whether or not to make a smartphone based on Google's Android platform rather than its own operating system, reports Reuters. Citing sources familiar with BlackBerry's plans, Reuters says the company is working on a slider handset that would have a touch screen and a slide-out physical keyboard for typing.
Sharp Leaning Toward Foxconn's $5.5B Bid
Sharp is favoring an acquisition offer from Foxconn over a potential rescue from Japanese investors. Sharp has lost market share in the consumer electronics business over the last few years while prices for its display panels have sunk.
Qualcomm Must Pay BlackBerry $940M to Settle Royalty Spat
BlackBerry today announced the final award in an arbitration case between it and Qualcomm that was tentatively settled in April. Qualcomm must repay BlackBerry of a total amount of $940 million, including interest and attorneys' fees — a number that's $125 million more than the original award announced last month.
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