BlackBerry Ltd (NASDAQ:BBRY) is preparing to sell some of its real estate assets in Canada to San Francisco-based real estate investment company Spear Street Capital LLC for $278 million. BlackBerry said it would sell over 3 million square feet of space along with vacant lands. BlackBerry will also lease back a portion of the space.
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BlackBerry Ltd (NASDAQ:BBRY) has acquired a minority stake in U.S. healthcare IT firm NantHealth. BlackBerry and NantHealth are working together on a smartphone to meet the needs of the healthcare sector with an expected launch of late 2014 or early 2015. The terms of the deal were undisclosed.
BlackBerry Ltd (NASDAQ:BBRY) CEO John Chen acknowledged that the company would exit the handset business if it continues to be unprofitable. BlackBerry is focusing more on enterprises, investments, acquisitions, and partnerships – specifically in the healthcare, financial, and legal service industries.
BlackBerry, the Canadian smartphone giant, has decided to part ways with T-Mobile at the end of April. The two companies will not be renewing their sales agreement at that time. BlackBerry CEO John Chen said that the strategies between the two companies are not “complementary.” He said that BlackBerry needs to act in the best interest of its customers.
BlackBerry has reported a lower than expected loss. BlackBerry reported a Q4 loss of $423 million as CEO John Chen is aiming for a turnaround at the company. The company reported a loss of eight cents a share, excluding one-time items. Wall Street was expecting a 55-cent loss for the quarter.
BlackBerry Ltd (NASDAQ:BBRY) has reportedly reached an agreement to sell most of its real-estate holdings in Canada in order to raise cash for a turnaround plan. BlackBerry is going to sell over 3 million square feet of space plus vacant property and lease it back some of it. This transaction is expected to close at the end of May. BlackBerry did not reveal the terms of the deal.
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