Bid for Blackberry

Author: EIS Release Date: Sep 5, 2023

Private equity firm Veritas Capital has made an offer to buy BlackBerry, reports Reuters. Other prospective buyers are in talks with the company which has been conducting a strategic review.

 

The amount of the Veritas offer  is not disclosed but, after news of the bid surfaced, Blackberry’s shares rose 17% giving the company a market cap of $3.1 billion.

 

In May, Blackberry said it would consider strategic options for the company and would sell its mobile phone patents to Malikie Innovations for up to $900 million. It exited the smartphone business in 2022.

 

 

 

Now, Blackberry develops  software for IoT and cybersecurity.