The agreement is reportedly similar to one signed by Cerebus Capital Management on Wednesday that the Bloomberg news service reported.
Fairfax Financial Holdings has the most advanced offer to take BlackBerry private for $4.7 billion. Fairfax already owns 10% of BlackBerry, while the founders own 8%.
In its open letter to "valued customers, partners and fans" the mobile device maker said "You can continue to count on BlackBerry."
The company emphasized that it is debt free with substantial cash on hand and is restructuring with a goal of cutting expenses by 50%.
"Governments all over the world, global corporations and businesses that simply cannot compromise on security choose and trust BlackBerry," the company said in the letter signed by The BlackBerry team. "Security is our heritage, and the industry recognizes that BlackBerry is the most secure when it comes to the device, server and, of course, our global data network. Have no [...]
Today, the once-mighty smartphone maker announced it has signed a letter of intent to be acquired by a consortium led by Fairfax Financial Holdings in a deal worth approximately $4.7 billion. Fairfax currently owns about 10% of BlackBerry already, would contribute those shares as part of its proosed deal.
BlackBerry will review the deal over the next six weeks while a special commitee will also entertain other offers which may supercede the Fairfax offer. If no better offers surface, the Fairfax offer is expected to become definitive on November 4, 2013.
Barbara Stymiest, Chair of BlackBerry’s Board of Directors, said: “The Special Committee is seeking [...]
The Financial Post reports that the redundancies are for personnel based out of the firm’s headquarters in Waterloo, Ontario, but doesn’t know if this move will effect some divisions worse than others.
In a statement, the PlayBook tablet maker said that it was in the ‘second phase of our transformation plan’.
This news less than a month after BlackBerry cut another 250 jobs at the company’s HQ. The firm recently established a special committee to look for a buyer.
Situated on a remote 4,200 acres, Blackberry Farm is consistently found in the top of Travel + Leisure World's Best Awards. The resort boasts two gourmet restaurants and full spa services. On-site activities — include fly-fishing, horseback riding, clay course shooting, kayaking, hiking and biking.
Hoping to increase guest satisfaction and decrease the number of technology complaints, the company began offering iPads for a select number of guests as a pilot program.
"Our guests will arrive, and, instead of receiving a paper itinerary for their stay they can view all of their hotel information from the convenience of their rooms on the iPad," said [...]
The Z30 smartphone is rumored to have a 5-inch Super AMOLED display with (1,280 x 720 resolution) which is big enough to be considered one of the new generation of over-sized smartphone/kind-of-a-tablet devices that are often referred to as a phablet.
The Z30 will run the latest version of the BlackBerry OS (vers. 10.2), powered by a dual-core Qualcomm Snapdragon S4 processor, 2 GB of RAM, 16 GB of storage, an 8 megapixel camera on the back and a large (2800 mAh) rechargeable battery inside.
TheStreet.com spotted some leaked photos and video on Vietnamese websites that claim to show the new Z30. A BlackBerry spokesperson said the company doesn't "comment on [...]
The company's stock dropped 4% in after hours trading.
The three now ex-BlackBerry execs are VP of corporate information technology operations Doug Kozak, Sr. VP of global manufacturing and supply chain Carmine Arabia, VP of service operations Graeme Whittington.
A spokesperson for BlackBerry told VentureBeat in an email:
"As previously stated, we are in the second phase of our transformation plan where we will be assessing our organization – from top to bottom – to ensure we have the right people in the right roles with the right skill sets to drive new opportunities in mobile computing. We will be as transparent as [...]