Russian Smartphone Maker Eyes Move to BlackBerry's Backyard in Waterloo

A smartphone maker may be moving into BlackBerry's backyard.

Russia's Yota Devices is plotting a move to Waterloo or Toronto by the end of 2014, according to its CEO, who wants to take advantage of the thousands of employees that Canadian tech firm BlackBerry has laid off in the past couple years.

“Among those people there are brilliant engineers,” Yota's Vlad Martynov told the Financial Post. ”What we do is we pick up those engineers and bring them to the company.”

Yota Devices plans to raise $100-million, the FP reports, and may even list the company on the Toronto Stock Exchange next year.

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... more

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