BlackBerry trading halted as company looks for a new owner or other alternatives

BlackBerry trading halted as company looks for a new owner or other alternatives

BlackBerry has finally publicly declared that it is looking to find a new backer willing to take the company on or one that is happy to partner with the handset maker under a joint venture or other strategic partnership.

BlackBerry said:

“The Company’s Board of Directors has formed a Special Committee to explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment. These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.”

Thorsten Heins, chief executive of BlackBerry added:

“We continue to see compelling long-term opportunities for BlackBerry 10, we have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition. As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”

It’s no secret that BlackBerry has been struggling to win over the consumer market in recent years, just one of the reasons it now needs to consider alternative options, despite maintaining good links with the enterprise, thanks to the wide-spread deployment of its BlackBerry Enterprise Server (BES) system.

However, simply putting the feelers out for a deal doesn’t mean that any transaction will necessarily be entered into, BlackBerry said.

➤ Press release

Featured Image Credit – AFP/Getty Images

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