BlackBerry goes private in $4.7 billion deal
The deal is expected to close on November 4th pending all regulatory approvals. BlackBerry's board "approved the terms of the letter of intent," and investment banks like Merrill Lynch and BMO Capital Markets are involved in the transaction. The deal puts a value of $4.7 billion on the floundering company.
The lack of a huge premium indicates that BlackBerry was in bad shape. The year started off with hope as the company launched its new BlackBerry 10 phones. A Super Bowl ad for the BlackBerry Z10 brought some attention to the company, but in the end Android and iOS and even Nokia's hard-charging Windows Phone platform, were too much for BlackBerry.
We have no idea about current management's fate in the transaction. As soon as more details become available, we will update this story, so keep checking in!
1. D.Aceveda (Posts: 364; Member since: 30 Jun 2012)
Maybe new owners will force BB to make new decisions
4. Droid_X_Doug (Posts: 5922; Member since: 22 Dec 2010)
Oh, there WILL be new decisions. I doubt that the present management team will like the decisions. I doubt that BB/RIM will be in the hardware business much longer.
11. james004 (Posts: 486; Member since: 15 May 2013)
they will sell their asset in pieces. but keep the name blackberry and BBM. Like nokia did with its name and Here map.
9. Mxyzptlk (Posts: 4056; Member since: 21 Apr 2012)
Too late for that. That ship sunk a long time ago.
10. Mxyzptlk (Posts: 4056; Member since: 21 Apr 2012)
And the constant delays of BB10 didn't really help much .
6. GrapeEyes (Posts: 248; Member since: 01 Sep 2013)
I can't wait when they bring out the BlackBerry B1.
7. Pdubb (Posts: 239; Member since: 08 Aug 2011)
That would explain the delay in the bbm app perhaps?
13. djripster (Posts: 133; Member since: 10 Dec 2011)
BBM delay was blamed on the leaked APK files...
Just noticed that BlackBerry Limited has been removed from the Play Store though
14. djripster (Posts: 133; Member since: 10 Dec 2011)
Wish BlackBerry had just customized Android like Amazon... But I guess hardware requirements would have been much higher for their devices to make Android act like BB10
15. Martin_Cooper (Posts: 564; Member since: 30 Jul 2013)
Do people who bought BB realise that its almost impossible to get BB back on feet? Microsoft is spending BILLIONS each year, has NOKIA behind them, and they still cant take more than 10% market share after 2-3 years. Do they realise how much money they will have to spend just to make BB OS, app store, image of the company get back on feet? Its ridiculous. Android is going towards total domination of 80%+, iOS is doing ok being king of premium smartphones, WP8 is doing well slowly and steady. There is just no freaking room for a 4th OS especially from a company which is synonym with failure, crappy innovation and delusional CEO.
16. Pdubb (Posts: 239; Member since: 08 Aug 2011)
We are going to see a plethora of new os platforms in the next few months. Firefox, Ubuntu, Jolla and etc so time will tell if it will be money or just innovation that will propel the next OS.
17. wrm2013 (Posts: 187; Member since: 28 Mar 2013)
Convert to android, still use the swiping of os10, call it blackdroid, keep the form factor of the q10 with a larger screen and it will do well.
18. rusticguy (Posts: 2828; Member since: 11 Aug 2012)
How much of a bounty does the Z10/Z30 CEO get?
19. Q1Q10 (Posts: 20; Member since: 08 Mar 2013)
So does that mean that no more updates to the os10 software, no more apps, never getting instagram, seems like a ton of people were just screwed over, luckily i have my lumia 920
20. profperez1 (Posts: 49; Member since: 08 May 2012)
I understand many people think it shouldn't go Android----but I don't see any choice now. I might dual boot. But most developers don't want to invest in this---and I don't blame them. They say they have 140,000 APPS----but 70,000 are owned by one company and are just sooped up databases. I don't think it workable.