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Report last week showing
nearly $1 billion in loss,
things weren’t looking too
good. Just hitting the wires
is news that BlackBerry has
been acquired by a
Canadian Financial company
for the tune of $4.7 billion.
nearly $1 billion in loss,
things weren’t looking too
good. Just hitting the wires
is news that BlackBerry has
been acquired by a
Canadian Financial company
for the tune of $4.7 billion.
Fairfax Financial, which is a
company in Canada that
specialized in insurance,
has reportedly just agreed
to purchase the company at
$9 per share, coming in at
around $4.7 billion US
dollars. The company deals
with lots of financials, and
engages in property,
casualty, and life insurance
and reinsurance,
investment management,
and insurance claims
management. At least
according to their own
webpage. This is a major
shock, as we all thought
another mobile or electronic
company would snatch themup
Personally, we were hoping
someone like Lenovo would
acquire BlackBerry to help
with their Android
smartphone and tablet
aspirations, but clearly that
won’t be happening now.
After multiple failed
promises, getting
complacent and showing up
late to the smartphone
game, and other things
we’re sure you all know,
BlackBerry has struggled.
Here’s to a new chapter.
Whatever that may be.
Shares have been halted
for the company, and they
will resume at 2:00 PM
according to statements
from media, and earlier
they were already down 5
points on the day. We’ve
learned Fairfax was
already Blackberry’s
largest shareholder, but
that’s all we know at the
moment. This news has just
hit the wires and we’ll be
learning more soon enough.
This also means those
rumors on why BBM for
Android didn’t launch on
Sunday were just excuses,
and they were simply
waiting for this deal to be
finalized. Now we’ll have to
wonder if they’ll ever
release the app.
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