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BlackBerry Agrees $4.7bn Sale

BlackBerry Header

BlackBerry have agreed a provisional deal to sell it’s business for nearly $5billion.

A consortium led by Fairfax Financial Holdins – it’s largest shareholder – will pay $4.7billion for the struggling firm, who have dramatically fallen in the smartphone market in recent years.

Fairfax CEO and Chairman has spoken about the pending deal:

“We believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees.”

A $1billion cost-cutting exercise is reportedly due to take place over the next few months, resulting in 40% of it’s workforce being cut.

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A co-owner of this here website, as well as a Writer, Podcaster and Designer. I'm well known for my enthusiasm and positivity. You can find out what's on my mind by following me on Twitter and by checking out The Geek Show, The Podcast of Wisdom and Ring the Bell.

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