Cerberus explores acquiring BlackBerry
Private equity firm joins Fairfax and BlackBerry's co-founders in considering an offer for the phone maker
Computerworld - Private equity firm Cerberus Capital Management is reportedly considering a bid to acquire all of ailing BlackBerry.
The Bloomberg news service, citing a person close to the situation, reported Wednesday that Cerberus is in the early stages of weighing an offer and has signed an agreement with BlackBerry to gain access to its financial information for more insights.
BlackBerry and Cerberus did not comment on the report.
Cerberus sees BlackBerry as a viable business that can be turned around, even as BlackBerry reported a third-quarter loss of nearly $1 billion due to slack smartphone sales. The phone maker plans to lay off 4,500 of its 12,500 workers. Cerberus specializes in investments in distressed companies.
Last week, BlackBerry co-founders Mike Lazaridis and Doug Fregin filed documents with the U.S. Securities and Exchange Commission to take over all or part of BlackBerry, while Fairfax Financial Holdings made a preliminary offer in September to buy BlackBerry for $4.7 billion. Fairfax owns 10% of BlackBerry, while the founders own 8%.
Matt Hamblen covers mobile and wireless, smartphones and other handhelds, and wireless networking for Computerworld. Follow Matt on Twitter at @matthamblen or subscribe to Matt's RSS feed. His email address is email@example.com.
Read more about Smartphones in Computerworld's Smartphones Topic Center.
- 15 Non-Certified IT Skills Growing in Demand
- How 19 Tech Titans Target Healthcare
- Twitter Suffering From Growing Pains (and Facebook Comparisons)
- Agile Comes to Data Integration
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- HP HAVEn: See the big picture in Big Data HP HAVEn is the industry's first comprehensive, scalable, open, and secure platform for Big Data. Enterprises are drowning in a sea of data...
- What Datapipe customers need to know about the new PCI DSS 3.0 compliance standard This handy quick reference outlines what PCI DSS 3.0 is, who needs to be compliant and how Alert Logic solutions address the new...
- The 12 PCI DSS 3.0 requirements addressed by Peer 1 Hosting This handy quick reference outlines the 12 PCI DSS 3.0 requirements, who needs to be compliant and how Alert Logic solutions address the...
- Defense Throughout the Vulnerability Life Cycle This whitepaper provides insight into how to leverage threat and log management technologies to protect your IT assets throughout their vulnerability life cycle.
- Meg Whitman presents Unlocking IT with Big Data During this Web Event you will hear Meg Whitman, President and CEO, HP discuss HAVEn - the #1 Big Data platform, as well...
- The New Way to Work Knowledge Vault This Knowledge Vault focuses on how, in today's increasingly virtual world, it's more important than ever to engage deeply with employees, suppliers, partners,... All Smartphones White Papers | Webcasts