Blackberry
is a well reputed mobile manufacturer. They are known for their services, but
in the past few months the company is going through a tough time. A couple of
days ago we heard the news of Blackberry cutting off 4,500 employees with an
expected loss of $1 billion in the second quarter. So, things are just not
going good for the Canadian Company. Today we are hearing the news of
Blackberry getting a sale out offer from Fairfax Financial.
The deal is
expected to sum up at a price of $4.7 billion. Blackberry required a time frame
of six weeks and the final deal is expected to be signed on 4th of November.
Blackberry would also look for any other better offers. According to the deal
offered by Fairfax Financial, Blackberry shareholders will receive $9 for each
share.
Earlier this year Blackberry tried to make a comeback with their new
BB10 OS but things aren't as simple as Blackberry would have thought.
Blackberry lost 94% of their value in the past few years. In the meantime
Android and iOS reached the pinnacle of success and competition became even
tough.
Moreover after being delayed so many times Blackberry Z10 joined the
party too late and company continued to slump. Anyways Blackberry will continue
to look for alternative deals but this one is more likely to pass out.
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