Who's Betting on Blackberry?
Worth a $4 billion gamble? Among other deal announcements in Sept., 2013, an investing group from Canada has decided to bet on Blackberry, the tech company that was all the rage from the late 1990's until the iPhone shoved it off the scene in the mid-2000's. People still use Blackberry (yep, some still do!), and many companies support employee usage, partly because of an efficient messaging system. Yet with rapidly deteriorating market share and with its feeble efforts to catch up with what other smartphones offer (and with mounting losses), who would want to buy the company? A Canadian private-equity company has jumped in to take the gamble and assume the risk. It sees some value other market investors and the consuming public at large don't--up to about $4.7 billion worth. It has agreed to a buy-out to purchase shares it doesn't already own. In recent weeks, Blackberry's CEO has announced large losses, lay-offs and a new strategy focusing primarily on...