Say goodbye to Blackberry. Well we can say goodbye officially
considering we all have known this was coming for quite some time. Not
to mention the earnings 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.
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 them up
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. Stay tuned.
More gistz HERE.
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