This past October, BlackBerry revealed that they were looking for a buyer to take the company private. One offer emerged from Fairfax Financial and it was rumored that BlackBerry co-founder and former co-CEO Mike Lazaridis was considering a rival bid. Instead of going private, BlackBerry made an agreement with Fairfax Financial Holdings and other institutional investors by receiving a $1 billion private placement of convertible debentures.
Mike Lazaridis Posts
BlackBerry Ltd (NASDAQ:BBRY) co-founder Mike Lazaridis (pictured above) is currently in talks with private equity firms to buy out the Waterloo-based mobile giant. Lazaridis talked to both Blackstone Group and Carlyle Group about making an offer, according to sources with The New York Times. The talks are preliminary and there is a possibility that no bids will be made.
BlackBerry released their fiscal Q4 2013 earnings today and the company did very well considering that analysts dismissed a possible recovery for the Canada-based mobile and tablet manufacturing company. BlackBerry reported earnings of $0.22 per share on $2.7 billion in revenue. The company’s net income for the quarter was $114 million.
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Jim Balsillie is the former co-CEO of BlackBerry (formerly known as Research In Motion) that sold off all of his stake in the company according to a regulatory filing. About a year ago, Balsillie was the largest shareholder in the company with 26.8 million shares. Balsillie was the co-CEO of the company with Mike Lazaridis.
Over the last 20 years, Jim Balsillie and Mike Lazaridis have been co-CEOs and co-chairmen at Research In Motion Ltd. (RIM). Now the company has promoted Thorsten Heins from the COO position to the President and CEO of RIM. The management shuffle happened in the midst of pressure from investors, but the company said it was not a reaction to the stock price. RIM’s investors have been disappointed with weakening sales at the company due to increased competition from Google and Apple.
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