The board of struggling smartphone maker BlackBerry is reportedly planning to run an accelerated auction process as it looks to resolve the company’s future quickly.
Last month its executives formed a special committee to explore strategic…
The board of struggling smartphone maker BlackBerry is reportedly planning to run an accelerated auction process as it looks to resolve the company’s future quickly.
Last month its executives formed a special committee to explore strategic alternatives for the ailing business, including a possible sale as it looked to halt its decline.
A BlackBerry sell-off would likely see different buyers taking over separate parts of the company and could be wrapped up by November, people familiar with the matter told the Wall Street Journal.
Private equity firm Bain Capital, Chinese PC maker Lenovo Group and the Canada Pension Plan Investment Board are expected to consider bids, the report said citing people close to the process. BlackBerry has reportedly already held preliminary talks with parties interested in buying part or all of the company.
The news follows Microsoft and Nokia’s announcement on Tuesday that the US software giant is set to buy the Finnish vendor’s main handset business in a US$7.16bn all-cash deal.
Microsoft’s outgoing CEO Steve Ballmer said the acquisition would accelerate the software company’s market share and profits in phones.
Last month Microsoft overtook BlackBerry in the global smartphone operating system market, according to research firm Gartner. Some analysts have suggested the Nokia buy could secure Microsoft’s position as number three in the market behind Google and Apple. Microsoft has reportedly held talks with Blackberry in the past and was touted as a potential suitor.
