BlackBerry Considering Going Private, Sources Say

Posted by Knowlton Thomas

BlackBerry is considering going private, several sources familiar with the situation told Reuters.

According to the Reuters report, chief executive officer Thorsten Heins and BlackBerry's board of directors are "increasingly coming around to the idea that taking BlackBerry private would give them breathing room to fix its problems out of the public eye."

However, that doesn't mean the private route is likely. Quoth Reuters:

No deal is imminent, however, and BlackBerry has not launched any kind of a sale process, the sources said. Even if it tried, BlackBerry could find it hard to come up with a buyer and the funding to go private. With the company still posting losses and bleeding subscribers, private equity firms and other buyers may not want to step up.

The Waterloo-based smartphone pioneer's market value sits below $5 billion, down from $84 billion in 2008. Shares are down 20% this year, despite the launch of BlackBerry 10.

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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