BlackBerry May Consider Going Private (Update)

BlackBerry May Consider Going Private (Update)


Update on 12/8/2013 8.20 PM: BlackBerry just announced that the company's Board of Directors has formed a Special Committee to "explore strategic alternatives to enhance value and increase scale" to accelerate the deployment of BlackBerry 10. The alternatives could include possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.

Originally reported on 12/8/2013 10.15 AM

Sources from inside BlackBerry have informed Reuters that the troubled company is open to the idea of going private, which would give it breathing room to fix its problems out of the public eye.

According to Reuters' sources, Chief Executive Thorsten Heins and the company's board is increasingly coming around to the idea, with one source stating, "there is a change of tone on the board."

However, it may not be that easy for BlackBerry to find a buyer and the required finding to go private. The company's shares have fallen by more than 19% this year, with its market value falling to US$4.8 billion, down from US$84 billion in 2008.

BlackBerry continues to hope for a turnaround of its fortunes with its new line of BlackBerry 10 devices.

Source: Reuters, BlackBerry (MarketWire) via The Verge

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