Not long after reports emerged of Canada-based BlackBerry possibly looking to go private, a change in strategic direction has now been confirmed.
According to a press release, dated 12th August 2013, BlackBerry has officially announced that it is now exploring “strategic alternatives” for which it has put together a Special Committee, including CEO Thorsten Heins, the aim of which to enhance value and increase scale in order to accelerate BlackBerry 10 deployment.
The alternatives that BlackBerry mention could go the way of joint ventures, strategic partnerships or even a sale.
The press release states, “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,” said Timothy Dattels, Chairman of BlackBerry’s Special Committee of the Board. “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.”
The announcement concludes with “There can be no assurance that this exploration process will result in any transaction. The Company does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives.”
While it is unknown at this stage if any such proposed alternatives will materialise, the question remains if the struggling smartphone maker can in fact be saved having seen its share price fall by nearly 38% in the last six months and the departure of several senior executives.
Source: Endgadget
