Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsTechnologyBlackBerry says considering selling itself

    BlackBerry says considering selling itself

    Board of Directors of BlackBerry has formed a special committee to explore strategic alternatives, including selling itself, to increase business of its latest technology platform, BlackBerry 10, according to a statement by the firm.

    August 12, 2013 / 20:33 IST

    Canadian smartphone maker BlackBerry is considering selling itself.
        
    Board of Directors of BlackBerry has formed a special committee to explore strategic alternatives, including selling itself, to increase business of its latest technology platform, BlackBerry 10, according to a statement by the firm. Q5, its latest product on BlackBerry 10-- the operating system-- was launched in India last month. The other models on this platform are Q10 and Z10.


    Also read: BlackBerry open to going private: Sources
        
    "The alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the company or other possible transactions," BlackBerry said in the statement.
        
    With the announcement of the special committee, Chairman and CEO of Fairfax Financial- the firm which holds maximum share in BlackBerry, Prem Watsa has resigned from the board "due to potential conflicts that may arise during the
    process".

    Watsa, however, added that "Fairfax Financial has no current intention of selling its shares".
        
    The special committee of the Board is comprised Barbara Stymiest, Thorsten Heins, Richard Lynch and Bert Nordberg, and will be chaired by Timothy Dattels.
        
    JP Morgan Securities LLC is serving as financial advisor to BlackBerry and Skadden, Arps, Slate, Meagher & Flom LLP and Torys LLP are serving as legal advisors.

    Invite your friends and family to sign up for MC Tech 3, our daily newsletter that breaks down the biggest tech and startup stories of the day

    first published: Aug 12, 2013 08:28 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347