Good news from BlackBerry has been few and far between in the last couple of years. The ailing Canadian company has searched for answers for some time, to no avail. There has been some optimism coming from BlackBerry HQ with talks to multiple companies for a possible buyout plan to the tune of $4.7 billion. The names included Microsoft, Lenovo, Google and the most promising ““ the Fairfax consortium. The latter is definitely out of the running now, as talks have collapsed.
BlackBerry is now cancelling plans for a rescue deal, instead opting to raise $1 billion in cash with a debt issue and waving goodbye to current CEO Thorsten Heins. The board is currently looking for a replacement, but in the meantime, John S Chen, former CEO of Sybase, which is now a part of SAP, will take the reins as interim CEO.
Source: The Globe and Mail
