Qualcomm in talks to join BlackBerry founders in launching a possible bid
Qualcomm is the latest manufacturer to be interested in launching a bid for the beleaguered BlackBerry.
It was revealed by The Wall Street Journal yesterday that Qualcomm is in talks with equity management firm Cerberus and BlackBerry co-founders Mike Lazaridis and Doug Fregin in launching a joint bid for BlackBerry.
Following a dismal year, BlackBerry is looking for a suitor, and while a preliminary deal worth $4.7 billion has been struck with a consortium that is led by Fairfax Financial Holdings, the financing for the deal hasn’t been procured yet, according to The Wall Street Journal.
The deadline for submitting a bid is Monday, and prior rumors indicated that a multitude of organizations that included Lenovo, Google and Cisco were interested in making a bid. It was also revealed last week that high-level BlackBerry executives had flown out to California to discuss a buyout to Facebook. While there has not been any confirmation from Qualcomm, we should have more information on Monday.
Qualcomm could stand to benefit from an acquisition, as that would give the manufacturer to add BlackBerry’s patents to its portfolio. And while Mike Lazaridis is not currently with BlackBerry, he has been vehement about buying back the organization he co-founded with Doug Fregin back in 1984.
BlackBerry had a stranglehold on the market share no less than three years ago, but now the Canadian stalwart has a measly 2 percent global market share. BlackBerry’s stock has similarly taken a nosedive, with individual stock prices at $7.77 today, which is a far sight from the $150 it had attained in June 2008.
Source: The Wall Street Journal