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BlackBerry board to consider potential sale

James Barnes
August 12, 2013

Manufacturer to explore possibility of joint ventures, partnerships and even the sale of the company

BlackBerry has announced its board of directors have formed a special committee to explore “strategic alternatives” to enhance value and increase BlackBerry 10 deployment.

In a statement, the Canadian manufacturer said that alternatives could include “joint ventures, strategic partnerships or alliances, a sale of the company or other possible transactions”.

In June, BlackBerry reported its financial results for Q1 ending June 1, which showed that it had made a loss of $84 million, with customer numbers falling four million to 72 million. The company also cut around 5,000 jobs last year.

BlackBerry director Timothy Dattels will chair the special committee, which also includes CEO Thorsten Heins (pictured), chairperson Barbara Stymiest and directors Richard Lynch and Bert Nordberg, who both joined the company in February.

Dattels said: “During the past year, management and the board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long-term value for customers and shareholders,”  “Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives.”

Heins added: “We continue to see compelling long-term opportunities for BlackBerry 10, we have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition.

“As the special committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”

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