BlackBerry goes private in $4.7 billion deal
posted by Alan F. / Sep 23, 2013, 1:14 PM
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!
Posts: 432; Member since: Jun 30, 2012
Maybe new owners will force BB to make new decisions
posted on Sep 23, 2013, 1:19 PM 3
Posts: 5993; Member since: Dec 22, 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.
posted on Sep 23, 2013, 1:48 PM 2
Posts: 305; Member since: Mar 21, 2012
what will happen to Z30?
posted on Sep 23, 2013, 1:33 PM 0
Posts: 249; Member since: Aug 08, 2011
That would explain the delay in the bbm app perhaps?
posted on Sep 23, 2013, 2:10 PM 1
Posts: 1774; Member since: Jul 30, 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.
posted on Sep 23, 2013, 5:52 PM 1
Posts: 76; Member since: May 08, 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.
posted on Sep 25, 2013, 4:30 PM 0
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