BlackBerry is now looking for a buyer

by Doug Drinkwater

August 12 2013

Struggling BlackBerry has established a special committee in the hope of attracting a company buyer or establishing some joint ventures.

In a statement that was released today, the company confirmed that the special committee will enquire about possible joint ventures, strategic partnerships or even the sale of the company, but stressed that  “there can be no assurance that this process will result in any transaction”.

Trading in BlackBerry shares was temporarily suspended but resumed trading at 8.30 a.m ET. Prem Watsa, chairman and CEO of Fairfax Financial – the largest BlackBerry shareholder – has said that he will resign because of potential conflicts that could arrive during this process.

This news follows a report from Reuters which revealed that BlackBerry was interested in going private.

BlackBerry has struggled for sales since the turn of the year, despite launching its first handsets running the BlackBerry 10 operating system.

The firm also looks unlikely to return to the tablet market anytime soon, especially with its original PlayBook tablet now not scheduled to update to BB10.

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  • John Swain
    11 months 2 weeks ago

    BlackBerry has lost it's flower. The usual buyers of outdated relevancy, HP and Microsoft, don't want to look like idiots.....again. So, who might be a potential buyer, and why? Try China, and mostly for the value of their patents.

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