BlackBerry board thinking about taking the company private
On Thursday, one of the sources close to the board's thinking said that there has been a change of tone, although the board has not even started the process of going private. To do so would require the company to purchase all outstanding shares of the company at a premium in order to persuade investors to part with the stock. The shares are currently trading at $9.23, well off the $15 area where they traded earlier this year in anticipation of the launch of the new BlackBerry 10 phones.
At its peak in 2008, the company was worth $84 billion. The value of BlackBerry's outstanding shares now totals $4.8 billion, a decline that started when past management moved slowly on the touchscreen era, believing the Apple iPhone to be a fad. Just last month, CEO Heins said that the company was on the right track, but needed more time, something investors don't like to hear.
To go private would require financing that BlackBerry probably coud not get on favorable terms. Heins could decide to sell parts of the company, including its patent portfolio or services business, or he could try to find a buyer for all of BlackBerry. Earlier this year there was speculation that Chinese tech company Lenovo was interested in buying BlackBerry, but Lenovo later backed away from comments made by CFO Wong Wai Ming, saying that they were taken out of context.
1. xperiaDROID (banned) (Posts: 5629; Member since: 08 Mar 2013)
Good luck BlackBerry, don't give up!
4. TreyTreyTaylor (Posts: 573; Member since: 21 Dec 2010)
That's a damn shame. Just five years ago they were a gold mine. Now they're like a frickin land mine.
7. Dorothy69 (banned) (Posts: 498; Member since: 21 May 2013)
It's truly sad and brings tears to my ears to have to say that, instead of reverting to "Private" status, they should just dissolve the entire company and be done with it. It's really painfully excruciating to witness the constant failure of their revamped business plan and restructuring efforts; all of which just keep failing!! I'd like to just be able to remember Blackberry for the good old days (of 2006 - before iFones and Android).
8. PhoneCritic (Posts: 509; Member since: 05 Oct 2011)
BlackBerry needs to let go of the manufacturing arm and become a software only company partnering with Google and its OEMs for BBM - this is the only way they will save the company.
9. shahrullevin (Posts: 2; Member since: 18 Jul 2013)
I've used Symbian, Windows Mobile, feature phones, iOS, Android, Blackberry.. Among all the phones that I've used, I miss my Bold 2 (9700) a lot.. It does what it does.. Seeing BB sinking this way its just a sad thing to see.. Yes, we can assume it was because of their arrogance and ego that put the company in their state now, and the two CEO before have left.. Leaving Thorsten Heins restructuring the company from ground.. He sees the potential of QNX.. NASA, military, automotive company, etc. uses QNX in their system.. Now I'm currently using Lumia.. I didn't mention first I'm using WP.. Yes the OS is nice, simple, I can live with it.. I mentioned Lumia because of the bulid quality, and camera not because of the WPOS.. It nice to try other OS and WP feels fresh but as people know Windows are obsolete now.. We have choices.. Nowadays when we think about Nokia what comes to our mind is camera.. I miss the old days.. Nokia, Sony Ericsson, Siemens..
I hate to see another company who produces great phones being beaten and vanish, again.. Nokia did set their ego aside when they cut cost, lowered their premium phone price tag which BB didn't do.. I hate to see a potential OS like QNX vanished in the phone industry like what happened to WebOS.. Meego is still living in the form of SailfishOS by Jolla and its good.. BB10 gesture was taken a lot from Meego.. This is where the stupidity of Stephen Elop comes.. He doesn't think what benefits Nokia, he doesn't have the passion to further Meego development.. He only thinks Microsoft, and camera.. The N9 was voted the best mobile phone design and the best mobile phone beating an iPhone.. Here comes the good value of Thorsten Heins.. He is passionate in succeding the company and his effort should be applaud.. I want to see how the 10.2 update goes with the new Android Runtime Player supporting JellyBean.. If it goes well I'll definitely be switching back to BB.. Not because of the brand, because the potential of QNX.. BB has state they are open sourcing it for other companys, so it not about brand.. I hate seeing BB going down because I dont want to see QNX vanished..
And I just want a phone that does what it does, communicate..
10. Droid_X_Doug (Posts: 5993; Member since: 22 Dec 2010)
Time to move on. The problems at BB/RIM are self-inflicted wounds dating from the tenure of the co-Bozos. They are all gone and BB/RIM is still a one-trick pony.
Time to move on.