Info Image

BlackBerry Denies Speculation on $7.5 Billion Take Over Bid by Samsung

BlackBerry Denies Speculation on $7.5 Billion Take Over Bid by Samsung Image Credit: Blackberry

Following reports on Samsung's possible takeover of Blackberry, the latter today issued a statement dismissing the speculation. 

"BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry, "the company said in a statement. "BlackBerry's policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further."

According to news reported by Reuters, Samsung is said to have approached BlackBerry with a US$7.5 billion takeover bid, citing a person familiar with the matter and documents seen by Reuters. Samsung purportedly planned to tap into the Canadian firm’s vast patent portfolio and security portfolio. Reuters went further to say that executives from both companies met last week to discuss a potential transaction.

The Reuters report has sent BlackBerry shares skyrocketing almost 30% at the end of trading on Wednesday. 

Both companies to date, have worked closely, partnering to provide a highly secure enterprise mobility solution for the Android operating system. The partnership brings together BlackBerry's BES12, a cross-platform Enterprise Mobility Management (EMM) solution and Samsung KNOX, an Android solution that safeguards enterprise data with multiple layers of hardware- and software- based protection..

 

 

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

PREVIOUS POST

AT&T Powers McDonald's Digital Menu Boards

NEXT POST

SpatialBuzz Launches Enhanced Cloud-based CEM Solution