Summary: BlackBerry’s largest shareholder buys the phone manufacturer for 4.7 billion euros and takes it off the market to work on a comeback. Interested companies have until November to come.
BlackBerry announced on Monday that it has entered into with Fairfax Financial, the phone maker for $ 9 per share will take over, worth approximately 4.7 billion dollars (3.5 billion euros) an agreement. This bought out shareholders get something more than the current price per share of 8.25 dollars.
Canadian investment company had 10 percent of the shares and will be investing in the consortium that the phone maker will henceforth lead. Fairfax CEO Prem Watsa says he still sees a future in the company:
“We believe this transaction is an exciting new (private) chapter will start for BlackBerry, customers, operators and employees. We can provide immediate value to shareholders while we continue to implement a long term strategy in a private company that focuses on delivering superior and secure enterprise solutions for customers of BlackBerry around the world. “
the deal of $ 4.7 billion puts an end to the company that for years was a status symbol in the boardroom. Because the emergence of competitors such as Apple iOS and Google Android, however, underestimated the company in recent years came in a free fall.
Long agony
Since 2008, when BlackBerry was still at its peak, it still recorded a share price of $ 145. Five years later, the proportion was 94 percent of its value lost. BlackBerry worked with might and main to a comeback, but the meritorious BlackBerry 10 came too late to return.
The first model, the BlackBerry Z10, failed miserably and the Canadian company continued with thousands of unsold units sitting. The Q10, with the familiar keyboard, could only convince BlackBerry fans, while other consumers been abandoned.
This led to BlackBerry in the second quarter with a loss of a billion dollars. It recently also announced that 4,500 jobs will be deleted.
New chapter, or epilogue?
downsized BlackBerry in private hands will now fully focus on the enterprise market, though it is debatable whether it is on the market new competitors like Samsung of the web will be able to hold.
Because
BlackBerry has indicated that no longer want to focus on the consumer would just uigebrachte BlackBerry Z30 sometimes can be a collector’s item. It might be the last smartphone that it ever will bring on the market.
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