BlackBerry looking at ‘strategic alternatives’ to push BlackBerry 10, including selling the company
BlackBerry has today announced the formation of a special committee that will “explore strategic alternatives” for the company to increase its value and speed in BlackBerry 10 deployment. These alternatives include, but aren’t limited to, new partnerships and joint ventures, possible mergers or a sale of the company.
This move, according to a company release, is focused on evaluating the best long-term approach for BlackBerry’s continued operation, and on “delivering long-term value for customers and shareholders.”
BlackBerry President and CEO Thorsten Heins added:
“We continue to see compelling long-term opportunities for BlackBerry 10, we have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition. As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”
The formation of this special committee comes just weeks after BlackBerry reportedly fired Vice President of Sales in the U.S. Richard Piasentin. The Wall Street Journal recently reported that the company is also planning to cut a large number of jobs in middle management after disappointing first quarter earnings of $3.1 billion and a net loss of $84 million for the quarter.
Heins previously told stockholders that a sale of the company was not in the works, and this committee doesn’t promise any final actions will actually be taken.