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BlackBerry Officially Open to Sale

Nerval's Lobster (2598977) writes | about a year ago

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Nerval's Lobster (2598977) writes "BlackBerry is considering whether to sell itself off to the highest bidder. The company’s Board of Directors has announced the founding of a Special Committee to explore so-called “strategic alternatives to enhance value and increase scale,” which apparently includes “possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.” BlackBerry CEO Thorsten Heins added that, while the committee did its work, the company would continue to its recent overhead-reduction strategy. Prem Watsa, chairman and CEO of Fairfax Financial—BlackBerry’s largest shareholder—announced that he would resign from the company’s board in order to avoid a potential conflict of interest. News that BlackBerry is considering a potential sale should surprise nobody. Faced with fierce competition from Google and Apple, the company’s market-share has tumbled over the past several quarters. In a desperate bid to regain its former prominence in the mobile-device industry, BlackBerry developed and released BlackBerry 10, a next-generation operating system meant to compete toe-to-toe against Google Android and Apple iOS—despite a massive ad campaign, however, early sales of BlackBerry 10 devices have proven somewhat underwhelming."
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