BlackBerry denies having met with Samsung executives to discuss a takeover deal

BlackBerry denies having met with Samsung executives to discuss a takeover deal

  • BlackBerry has useful patents
  • Microsoft and Apple’s interest earlier

It is being said that the executives of the two companies met to talk about a deal worth $7.5 Billion, but BlackBerry denies having shown any interest in selling

While Apple got itself busy last year with the acquisition of Beats Music, Samsung was probably thinking of something even bigger which has surfaced now. According to reports from Reuters, Samsung is interested in buying out Blackberry. Executive from both the companies met a week ago to discuss the developments in this new plan and according to what the report says, Samsung has made an offer of $7.5 billion to get hold of the extensive patent portfolio of the struggling Canadian company.

The report exactly says, “South Korea’s Samsung proposed an initial price range of $13.35 to $15.49 per share, which represents a premium of 38 percent to 60 percent over BlackBerry’s current trading price, the source said.”

Over the past few years, BlackBerry hasn’t been able to make its make like it initially did. With smartphone options growing and all other phones offering the same services which business people look for, BlackBerry has considerably lost its market. This doesn’t seem to be the first time another company has tried to lend a rescue hand as earlier in 2013, Fairfax Financial had offered to buy the company for $4.7 billion but that deal didn’t work out.

Apple and Microsoft both had their eyes on BlackBerry but apparently the Canadian phone manufacturer wasn’t keen on breaking up the company and selling it piecemeal. The company made all possible efforts to pull through its financial plunges and accepted investments to re-establish itself in the smartphone industry. It has recently launched Passport, a large square-shaped phone, and the Classic, a throwback to original BlackBerry designs.

BlackBerry owns some useful patents which are worth $1 billion to $3 billion and in the year 2012 alone, the patent portfolio of the company grew by 986 patents, among them many useful for Samsung. But it appears that BlackBerry is still not interested to break up the company. While reports have been claiming that the two companies met to discuss terms of such a buy-out deal, BlackBerry’s recent recent press release states the opposite;

“BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) (“BlackBerry”) is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.”

source: marketwired

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