BlackBerry is purchased Fairfax Financial for $4,7B

BlackBerry is purchased Fairfax Financial for $4,7BMobile devices manufacturer BlackBerry executed preliminary agreement on sell of all their securities to finance company Fairfax Financial for $4,7B. Since summer the Company has considered various variants of business development, including sell of the whole company, formation of joint enterprises or strategic alliances.

Representatives of Fairfax have signed a letter of intent for purchase BlackBerry in an amount of $9 per share by cash and conduct delisting of securities of the Company. Before an agreement Fairfax owned approximately 10% of the Company. The Board of directors BlackBerry has confirmed the deal.

“We consider that this deal will open a new chapter for BlackBerry as a private company, its customers, mobile operators and workers. We will continue the long-term strategy of development the best and secure solutions for corporate clients BlackBerry all over the world”, - said director general of Fairfax Prem Watsa.

Recently BlackBerry announced about loss expectation in amount of approximately $1B per last reporting quarter.