Finally, Blackberry has found a buyer. A Canadian based financial conglomerate, Fairfax Financial Holdings announced today that it has agreed to acquire BlackBerry in a deal worth $4.7 billion
The deals sees the Toronto-based financial giant paying $9 per share for the battling mobile company. Blackberry’s shares were trading at $8.23 per share before a freeze was initiated.
The beleaguered company announced two days ago that it was cutting 4,500 jobs and taking a net operating loss of between $950 million and $995 million in the quarter ended August 31, due to write-downs and other factors.
The company even launched 4 new phones, the Q10, Z10, Q5 and Z30, into the market this year but these were not enough to save it the stiff competition from Apple and Samsung. Not many people could understand why it also made the BB Messenger available on Android and iOS.
A sad tale for a company that was worth more than $100 billion just 6 years ago.
