Fairfax will be renaming them RedBerry until things turn around
How does private equity plan to turn a profit here? I wonder if Blackberry has the patent on pushing a button or something?
Blackberry still has some decent IP floating around, and not as much customer goodwill as they used to, but still quite a bit. Especially in the corporate/government sector. Taking the company private and no longer being beholden to shareholders has certain benefits (and drawbacks), as well.
A telling quote from the linked Yahoo Finance article, from the CEO of Fairfax Financial as well (emphasis mine):
We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure **enterprise solutions** to BlackBerry customers around the world
Sounds like they’re planning on ditching the consumer market (where they have clearly not been doing the best job of competing), and focusing more on the business/government market.
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