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BlackBerry fights off Apple bite
BlackBerry Fights Off Apple Bite. Rumours of a strong Apple-backed effort to take over BlackBerry Ltd’s patents seem to have crashed after reports claimed that the trouble Canadian firm’s board has rejected the offers and has decided to put a halt on the company’s break-up.
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Toronto: Rumours of a strong Apple-backed effort to take over BlackBerry Ltd’s patents seem to have crashed after reports claimed that the trouble Canadian firm’s board has rejected the offers and has decided to put a halt on the company’s break-up.
Besides Apple, the other tech giants in the queue for Blackberry’s assets are Microsoft Corp., and the Lenovo Group Ltd.
But a Reuters report on Saturday said the Blackberry board rejected proposals from several technology companies for various BlackBerry Ltd assets on grounds that a break-up did not serve the interest of all stakeholders, which include employees, customers and suppliers in addition to shareholders, said the sources, who did not want to be identified as the discussions were confidential.
Microsoft and Apple had both expressed interest in BlackBerry Ltd’s intellectual property and patents, a source briefed on the matter told Reuters.
In 2011, the three companies had teamed up with others to buy patents from bankrupt Canadian telecoms company Nortel.
BlackBerry Ltd had also held discussions with Cisco Systems Inc , Google Inc and Chinese computer maker Lenovo, among others, about selling all, or parts of itself.
A BlackBerry Ltd spokeswoman declined to comment on the board's deliberations, and it is not known what specific proposals were rejected by directors during the company's three-month-long review of strategic options.
Microsoft, Apple Inc. and the other tech companies have all declined to comment on the matter.
BlackBerry Ltd stunned investors on Monday by abandoning plans to sell itself, naming a new interim chief executive, and announcing an $1 billion convertible notes issue to a group of investors including its largest shareholder the Prem Watsa-led Fairfax Financial Holdings, Canso Investment Counsel, Mackenzie Financial, Markel Corp, Qatar Holding and Brookfield Asset Management.
BlackBerry Ltd shares fell 16 per cent on the news as investors fretted the company may have missed an opportunity to deliver shareholder value.
