Report: BlackBerry Ltd (BBRY) Wants To Sell Themselves By November
BlackBerry Ltd (NASDAQ:BBRY) reportedly wants to sell themselves off within the next couple of months, according to The Wall Street Journal. This news comes on the heels of Microsoft’s $7.2 billion acquisition of Nokia. Last month, BlackBerry Ltd (NASDAQ:BBRY) even formed a special committee to find strategic alternatives, such as a sales, a joint venture, or alliances.
Sources with the Wall Street Journal even suggested that BlackBerry Ltd (NASDAQ:BBRY) CEO Thorsten Heins and his team held preliminary discussions with several potential bidders, which includes Asia-based tech companies.
The fall of BlackBerry Ltd (NASDAQ:BBRY) can be attributed to mismanagement, product delays, marketing inefficiencies, and rivalry intensity. Around seven years ago, BlackBerry dominated the business market for handsets. Samsung and Apple came started building their own smartphones and chipped away at BlackBerry’s market share at a rapid pace. BlackBerry Ltd (NASDAQ:BBRY) also banked too heavily on the BlackBerry 10 operating system, which was constantly delayed.
Who are some of the potential bidders? Canada Pension Plan Investment Board and Bain Capital are a couple of examples that The Wall Street Journal cited. Lenovo was also mentioned as a potential bidder.