BlackBerry Will Consider Sale of Company As it Forms Special Committee

Posted August 12, 2013 at 5:34pm by iClarified | Please help us and submit a translation by clicking here | 6204 views

BlackBerry has just announced that its board of directors has created a special committee to explore 'strategic alternatives' to enhance value and increase scale in order to accelerate BlackBerry 10 deployment. One of the options on the able is selling the company, as well as other forming strategic partnerships or alliances.

BlackBerry Limited , a world leader in the mobile communications market, today announced that the Company's Board of Directors has formed a Special Committee to explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment. These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.

The Special Committee of the Board is comprised of Barbara Stymiest, Thorsten Heins, Richard Lynch and Bert Nordberg, and will be chaired by Timothy Dattels.
With the announcement of the Special Committee, Prem Watsa, Chairman and CEO of Fairfax Financial informed the Company that he felt it was appropriate to resign due to potential conflicts that may arise during the process. Fairfax Financial is the largest BlackBerry shareholder. Mr. Watsa said, "I continue to be a strong supporter of the Company, the Board and Management as they move forward during this process, and Fairfax Financial has no current intention of selling its shares."

"During the past year, management and the Board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long-term value for customers and shareholders," said Timothy Dattels, Chairman of BlackBerry's Special Committee of the Board. "Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives."

BlackBerry finally launched its BlackBerry 10 in 2013, but so far the OS hasn't seen the success the company was wishing for. Recent IDC reports indicate that the BlackBerry marketshare is at a slim 2.9%. For comparison, Windows Phone is at 3.7%, while Android is sitting at nearly 80%

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dlink378 - August 13, 2013 at 4:17am
Although I don't use and android, black berry should just release their phone with android pre installed or bb os that can run android application. Or the better is making a cheaper phone that can run android application for the masses. I like the way bb 10 os do multi task, no need for home button and easy finger swipe to access it. swipe up from bottom to go to homescreen (like zephyr), swipe to right from bottom to active notification centre.
Tony - August 12, 2013 at 11:53pm
If Blackberry was smart, they would remove the stupid Blackberry store, and team up with Google play store and change the platform to run all Android apps. If not you can forget about the company going back up.
Mi2 - August 12, 2013 at 8:58pm
apple sheep for 9 years
Apple certified 9yrs - August 13, 2013 at 3:44am
Fuck off douche.....
Apple certified 9yrs - August 12, 2013 at 6:21pm
Good.Blackberry sucks...
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