BlackBerry BOD Considering Selling the Company

BlackBerry today announced that its Board of Directors has formed a special committee to explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment. According to the press release, such alternatives include, among others, possible joint ventures, strategic partnerships and alliances, a sale of the company or other possible…

• Special Committee
• Exploration of Strategic Alternatives
• Enhance value and increase scale

BlackBerry today announced that its Board of Directors has formed a special committee to explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment.

According to the press release, such alternatives include, among others, possible joint ventures, strategic partnerships and alliances, a sale of the company or other possible transactions. The Special Committee will be formed by a number of the company’s executives including its CEO Thorsten Heins.

Although the company’s Board of Directors are considering the prospect of selling the company, they also said that there can be no assurance that any of these alternatives will result in any transaction. Moreover, the company is will still be continuing with their current strategy of reducing cost, driving efficiency, accelerating deployment of BES 10 (BlackBerry Enterprise Server) and BBM and driving adoption of BB 10 smartphones to name a few.

Lastly, the company has also expressed that further developments with respect to this exploration process will no longer be disclosed in the future, unless its BOD approves a specific transaction or otherwise concludes the review of strategic alternatives.