BlackBerry's board is warming to the idea that the company could be broken up into pieces. The news comes amid growing concern that a consortium led by Fairfax Financial Holdings to take BlackBerry private in a $4.7 billion deal can't line up the financing to do so, according to a Bloomberg report.
BlackBerry is holding talks with Google, Cisco and SAP about selling all or part of itself, according to a Reuters report.
BlackBerry has drawn the interest of a handful of large tech firms to buy parts of the company’s business, despite the smartphone maker working through the process of selling the entire com
BlackBerry is working on a $4.7 billion deal to go private, but being shielded from the scrutiny of public shareholders will not change how much cash the company is likely to burn through as it executes its turnaround. According to one analyst's estimate, the company is likely to burn through most of its $2.6 billion in cash in the next 18 months.
BlackBerry may be struggling, but the curtain hasn’t closed on the company just yet. Both the
BlackBerry has drawn interest from distressed-investing firm Cerberus Capital Management, according to multiple reports, a development that could complicate its tentative deal with Fairfax Financial Holdings to go private.
BlackBerry it still a public company, and though it declined to hold a conference call to discuss its weak quarterly results last week, the company exposed the depth of its problems and challenges in a regulatory filing. The filing lays bare that the company is struggling in emerging markets, especially against smartphones running Google's Android software, where it once found growth and success.
BlackBerry, in the midst of trying to go private, is hitting back against a recent report from research firm Gartner that warned the company does not have a long-term future.
BlackBerry is trying to save itself by going private in a $4.7 billion deal. However, the road that has led up to this moment in the company's history was paved by splits between board members, poor production execution, especially after BlackBerry purchased QNX in 2010, and a failure to keep up with the changes in the smartphone market, according to an in-depth investigation by The Globe and Mail.
As it had warned, BlackBerry posted dismal quarterly results for its fiscal second quarter, including a $965 million loss. The company warned about the results last Friday and on Monday said it had struck an initial and tentative $4.7 billion deal to go private.