BlackBerry’s unsuccessful quest to seek a buyer started in 2012
Earlier this week BlackBerry announced it was open to strategic options that included partnerships, a joint venture with another company or even selling the company. The point of BlackBerry being up for sale has been rumored in the past but was never acknowledged by Thorstein Heins & Co prior to this announcement. However, Bloomberg is reporting that BlackBerry’s financial advisors RBC Capital Markets and JPMorgan Securities had quietly contacted potential buyers but received no interest in the company.
In May 2012, BlackBerry had announced Markets and JPMorgan Securities to advise the company and its board on “the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives.”
In August of 2012, reports emerged that BlackBerry was courting Samsung to license its BB10 operating system, an offer that Samsung seemingly passed. IBM was another company that Bloomberg that month identified to be interested in picking up BlackBerry’s enterprise assets. If the two companies were indeed in talks as it now seems, nothing came out of that either.
With no potential buyers in sight that BlackBerry could work out a deal behind the scenes, it had no option to come out in the open and put itself up for sale. One of the possible options right now could be to take the company private with its largest shareholder, Prem Watsa, and his financial investment company Fairfax Financial Holdings, which owns almost 10 percent of BlackBerry. Watsa stepped down from the board when BlackBerry announced its possible future actions, signalling that he could possible save the company by buying it out.Google+