BlackBerry To Be Sold For $4.7 Billion
September 23, 2013
The end of the road has arrived for BlackBerry as we know it. The once dominant mobile phone provider has agreed to be sold to Fairfax Financial for $4.7 billion, according to The Wall Street Journal.
According to the report, the Canadian-based BlackBerry has entered into a letter of intent to be bought for $9 a share. Fairfax Financial currently owns 10 percent of BlackBerry shares.
Earlier this month, BlackBerry said that they would cut their staff by 40 percent and stop selling devices to consumers in an attempt to stay in business.
Last week, BlackBerry attempted to release its Messenger or BBM service on iOS and Android. That attempt was halted soon after the app was released in the App Store in limited markets.
Fairfax Financial has not yet announced what it will do with BlackBerry.
