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Monday, 23 September 2013

BlackBerry sold for $4.7 Billion

After Nokia, now the BlackBerry goes private as it sold to Fairfax Financial Holdings for $4.7 billion.BlackBerry has been posted a operating loss of $1 billion for the second quarter and after that many rumors are circulating about the privatization of BlackBerry and finally the deal is executed between the BlackBerry and Fairfax Financial Holdings.

blackberry sold

BlackBerry is really suffering hard nowadays and even the lineup of Z10 which was introduced by the BlackBerry were not managing to get BlackBerry out of this tough situation.Z10 and Q10 are big hopes for the company but they were completely exhausted by the Android and the Windows platform.The deal is expected to complete on 4th of November because all the approvals are in pending stage and they will approve by 4th of November 2013.Merrill Lynch Bank and BMO Capital Markets are involved in the deal.

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