BlackBerry loses CEO, gets $1 billion for emergency investment
Photo Credit: crackberry
News is out that the companies had offered to buy the patents or intellectual properties of BlackBerry only. However, there was news that Fairfax Financial Holdings had proposed a takeover proposal of $4.7 billion. But what happened to the offer may never be known as pointed by Ramon Llamas, the Research Manager for mobile phones; “there was a degree of surprise here that the deal has fallen through. What happened to the $4.7 billion deal, we’ll never really know. Instead BlackBerry now looks to raise $1 billion to keep the company together for now.”
The news is followed by one more news that Thorsten Heins has stepped down as the CEO of BlackBerry and John Chen the Sybase Chief Executive will take the reign of the company for the time being. It seems that BlackBerry still has some trust on itself as some institutional investors have agreed to put forward $1 billion as salvage money. For a company who has already cut almost 40% of its employees, only time will tell how appropriate the decision was.
However, according to Roger Entner, the Principal Analyst at Recon Analytics, BlackBerry might be thinking of to, "buy sufficient time with a $1 billion investment to figure out what they are worth dead and how much they are worth alive." For now let’s just hope that company truly finds out a way out of the mess.
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