The board of directors at Canadian device maker BlackBerry has formed a Special Committee to weigh up the idea of selling the firm or running it as a joint venture with a partner. The firm said it would “explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment”. It admitted that possible alternatives could include “possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions”.
Device vendor Blackberry has announced that Canadian investment firm Fairfax Financial Holdings will, in partnership with other institutional investors, make a US$1bn investment in the firm. CEO Thorsten Heins will leave the firm as part of the deal.
Canadian device maker Blackberry has announced it expects to make a loss of approximately between $950m and $995m for its second fiscal quarter. In addition, the firm has announced restructuring plans that will see a reduction in staff of approximately 4,500 approximately 40% of the Company’s global workforce.
Embattled BlackBerry maker RIM has warned that it expects to post an operating loss in its fiscal first quarter.The firm said it has now has hired JP Morgan and RBC Capital to conduct a far-reaching strategic review and to look for partnerships, while also announcing plans to cut a “significant” number of jobs.
Research In Motion CEO Thorsten Heins has outlined a strategic overhaul of the Canadian device vendor aimed at refocusing the company on its enterprise service roots. But he conceded simultaneously that many of the firm’s traditional strengths are no longer valued as highly as they once were by its customer base.
RIM has appointed a new CEO after increasing shareholder pressure and a poor financial performance in 2011. Thorsten Heins will take over as president and CEO, with former co-CEOs Mike Lazaridis and Jim Balsillie stepping down. Lazaridis will become vice chair of RIM’s board and chair of the board’s new Innovation Committee and Balsillie will remain a member of the Board.