BlackBerry takeover rumours spread after board reveal possible November deal

by Andrew Roach on September 6, 2013

Over the last couple of months, Blackberry has looked for several ways to try and turn their fortunes around after struggling for the first half of the year.

One of their major moves is to look for new investors and partners to put money into the company and help them get back on their feet.

It had seemed that this would a difficult feat for the company with the likes of Huawei already dismissing reports that they were going to buy the former mobile giants.

But the company have revealed that everything could be done in a couple of months with some sort of deal ready and completed by the end of November.

The company revealed on Thursday that they had drew together a shortlist of companies that could be potential partners and were going to explore the options that could be pursued with each of those options.

It’s thought that many of the top Blackberry executives are keen to get any deals arranged and concluded as soon as possible.

Although Blackberry has yet to reveal the names on their shortlist, it’s thought that several names from both the tech and financial industry are interested including investment firms such as the Canada Pension Plan Investment Board and Bain Capital as well as Chinese electronics giant Lenovo.

It marks a significant change in fortunes at the Waterloo based firm who once were one of the top names in the smartphone industry.

But now, the company have just a 2.7% share of the overall market according to data research firm IDC and the figures are set to drop even further over the next year or so.

The talk of a potential takeover or at least some outsider investment has given the company a bit of added life on the TSX where shares in the firm jumped by 2.8% yesterday.

With some companies still interested in Blackberry, it means that there is still life in the smartphone company although their fortunes and directions may change significantly once a deal is concluded.

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Written by: Andrew Roach www.digitcom.ca. Follow TheTelecomBlog.com by: RSS, Twitter, Facebook, or YouTube

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