blackberry

BlackBerry has been going through a period of change lately and things are about to change once more, and in a big way, as a consortium led by Fairfax Financial is in the process of purchasing the mobile company for $4.7 billion. BlackBerry recently signed a letter of intent agreement making the sale a reality. Everything should be in its place by November 4 and BlackBerry will be a private company, with shareholders receiving $9 per share.

Fairfax Chairman and CEO Prem Watsa released a statement talking about a new private chapter for BlackBerry, wherein shareholders will see immediate value and customers will see superior and secure enterprise solutions as part of a long-term strategy.

On the BlackBerry side of things, CEO Thorsten Heins has yet to publicly speak about the news, but chair of BlackBerrys Board of Directors Barbara Stymiest discussed the continued search for options better than those presented by Fairfax consortium. However, if BlackBerry were to back out of the deal at this point, they would have to pay a termination fee.

via Engadget

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