BlackBerry Agrees a $4.7 Billion Buyout

BlackBerry has been sold. Yes, let the I told you so comments flow in, but finally BlackBerry has agreed to a $4.7 Billion buyout offer from Canadian company Fairfax Financial Holdings Limited. The offer on table was too good to go by or perhaps the position of BlackBerry too desperate, but that’s Nokia and BlackBerry both gone within a span of two weeks. A sad moment for all those who knew mobile technology well before it became a common man’s everyday toy.

BlackBerry Q10

Fairfax had already about 10% stake in BlackBerry but now has agreed to pay about $9 for each share of the company encompassing the whole takeover to be around $4.7 Billion. The shares were said to be trading in the region of $8.16 to $8.60. Although, most experts believe it is the right step for BlackBerry to be privately owned as now they can go back to drawing board and start over again rather than being in the public market which can be so unforgiving.

What are Fairfax’s plans of BlackBerry in the future are unknown, but Prem Watsa, the CEO of Fairfax did say:

We believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees. We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world

What are your opinions on this mega news? Let us know in the section below.

via: Technobuffalo

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