BlackBerry is sold for $ 4.7 billion Canadian company ... - State of Minas

Canadian maker of BlackBerry phones, struggling, said on Monday it agreed to be acquired by a consortium of investors for $ 4.7 billion. This operation would remove the handset maker’s purse. The company said it “has signed an agreement of intent whereby the consortium, led by Fairfax Financial Holdings Limited made an offer to acquire the company.”

The Canadian company Fairfax, headed by billionaire Prem Watsa, is already BlackBerry’s biggest shareholder, with approximately 10% of the shares. Watsa left the direction of BlackBerry in August. Under the proposed agreement, the consortium must provide $ 9 per share and Fairfax will contribute its own shares in the transaction. The BlackBerry said its board of directors support the plan.

The agreement, following the administrative procedures, should be announced on November 4th and also depends on the consortium obtain financing. The BlackBerry said it will continue to seek a better offer in that range. BlackBerry’s shares ceased trading shortly before the announcement, with a price of U.S. $ 8.23 ??per share.

On Friday, the company said it will cut 4,500 jobs or 40% of its strength work. Analysts reacted with moderate optimism to the announcement of purchase. “This is probably the best output among several options unattractive for Blackberry,” said analyst Jack Gold of J Gold Associates.

The BlackBerry helped create the culture of cellular users stuck with the their devices, but since then, many of these customers switched to Apple or other brands like Samsung, most with Android operating system.

The company, which announced losses in the second quarter of its fiscal year about $ 1 billion, will keep 7000 employees. The group had already cut some jobs in recent months in various industries, but held in the spring (in the northern hemisphere) 12,700 employees.

precursor of the market for smartphones, the BlackBerry is in continuous decline for at least three years and in 2012 was forced to dismiss 5,000 employees worldwide. The launch of BlackBerry 10 this year failed to boost sales.

The company will release its results next week and estimates that were sold 3.7 million of its handsets in the second quarter, but especially older models BB7. The company will reduce its product portfolio from six to four devices, according to a statement.