BlackBerry could look at spinning off or selling its secure messaging platform BBM, according to the Canadian company’s CEO John Chen.
BlackBerry’s shares rose 7.83% yesterday, and have gone up 17.6% since Facebook’s acquisition of rival OTT…
BlackBerry could look at spinning off or selling its secure messaging platform BBM, according to the Canadian company’s CEO John Chen.
BlackBerry’s shares rose 7.83% yesterday, and have gone up 17.6% since Facebook’s acquisition of rival OTT messaging platform WhatsApp.
On a simple per user basis, Facebook paid US$19bn for WhatsApp’s 450 million customers, which would imply a US$3.6bn value for BBM and its 85 million active monthly users. BlackBerry’s entire market capitalisation is US$5.5bn.
In an interview with Bloomberg Television at the Mobile World Congress in Barcelona, Chen said he would have to take a very serious look at anything which would create shareholder value. BlackBerry has launched a newly-encrypted version of BBM and Chen said its focus on security made it different.
BlackBerry was reported to be looking at separating its messaging unit last summer during its ill-fated strategic review.
The new CEOs turnaround strategy – which includes a renewed focus on keyboard handsets and government/corporate clients – appears to be winning over investors. Since Chen’s appointment, BlackBerry’s stock has risen more than 63%, from US$6.50 to US$10.60.
