BlackBerry, Facebook met over potential bid: Report
Quotes

BlackBerry, Facebook met over potential bid: Report

Last Updated: Wednesday, October 30, 2013, 18:47
 
 Comment 0
 
BlackBerry, Facebook met over potential bid: Report
New York: BlackBerry executives met with their counterparts at Facebook last week over a potential bid for the struggling Canadian phone-maker, The Wall Street Journal reported Wednesday.

Although BlackBerry is weighing a sale, it was unclear whether Facebook plans to bid on the company, the Journal said, citing people familiar with the matter.

The leading social network has made a priority of following its more than one billion members onto smartphones and tablets, and of finding ways to make money from visits by users on mobile devices.

Blackberry has USD 2.6 billion in cash, though that figure is eroding as the smartphone-maker loses traction in the market.

The company`s patents, with an estimated value of between USD 1 billion and USD 3 billion, are likely the most attractive BlackBerry asset for Facebook, the Journal speculated.

The patents namely cover security-network technology and smartphone component patents, which would be key to a company seeking to get a head start in the competitive smartphone market. BlackBerry also has about 70 million subscribers.

Last month, the company reached a preliminary deal for a USD 4.7-billion buyout by Fairfax Financial Holdings Limited, but also left the door open to other offers.

The Journal separately reported earlier this month that Chinese computer giant Lenovo Group Ltd. was mulling a possible counterbid to buy Blackberry, and BlackBerry has signed a nondisclosure agreement with distressed asset specialists Cerberus Capital Management LP.



AFP

First Published: Wednesday, October 30, 2013, 18:47


Comments


comments powered by Disqus
Top 10 Fastest-Emerging Cities
Top 10 Fastest-Emerging Cities
New York Auto Show 2014
New York Auto Show 2014
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved