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Saturday, October 5, 2013
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Cisco, Google, SAP Considering Bids For BlackBerry: report
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BlackBerry is in talks with Cisco Systems, Google and SAP about selling them all or parts of itself, reports surfaced late Friday.
The struggling mobile company has already announced a preliminary $4.7 billion agreement with a group led by Fairfax Financial Holdings, the company's biggest shareholder.
But according to Reuters, the company has also asked for preliminary expressions of interest from potential strategic buyers, including Cisco Systems, Google, SAP, Intel, LG and Samsung.
Google, Intel, SAP and Cisco declined to comment.
A BlackBerry spokesman told the news service it's "conducting a robust and thorough review of strategic alternatives."
Blackberry holds a large secure server network and patent portfolio.
In the meantime, a shareholder of BlackBerry sued the company and its executives on Friday, accusing them of inflating the stock price by painting a misleadingly picture of the business prospects of its BlackBerry 10 smartphone line.
Shareholder Marvin Pearlstein is seeking to represent a class of "thousands" of shareholders who bought stock between September 27, 2012, when the company touted its strong financial position, and September 20 of this year, when it revealed it would have to write down between $930 million and $960 million related to unsold BlackBerry 10 devices, according to the lawsuit.
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