BlackBerry Might Be Up For Sale Soon, Is Looking For Partnerships

By 06:46 Sat, 17 Jul 2021 Comments

BlackBerry has had a rough few quarters and has been bleeding market share, so its Board of Directors has formed a special committee to decide what to do next. Among the possible alternatives are selling the company, entering into a joint venture, strategic partnerships or others.

The committee is chaired by Timothy Dattels and President and CEO Thorsten Heins, Bert Nordberg (of Sony Mobile fame), among others. JP Morgan Securities is serving as financial advisor.

The press release explicitly states that the committee might do nothing at all if this is found to be in the company's best interest and that there won't be any more info disclosed about the process.

Prem Watsa, CEO of Fairfax Financial which is BlackBerry's biggest shareholder announced that he will resign from BlackBerry's Board of directors due to potential conflict of interest but he continues to support the company and Fairfax has no intention of selling its shares. Trading of BlackBerry shares in general has been halted for the time being.

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