×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Internet | telecom | Facebook | BlackBerry

BlackBerry, Facebook Met Over Potential Bid: Report

Wednesday, 30 October 2013 09:50 AM EDT

BlackBerry executives met with their counterparts at Facebook last week over a potential bid for the struggling Canadian phone-maker, The Wall Street Journal reported Wednesday.

Although BlackBerry is weighing a sale, it was unclear whether Facebook plans to bid on the company, the Journal said, citing people familiar with the matter.

The leading social network has made a priority of following its more than 1 billion members onto smartphones and tablets, and of finding ways to make money from visits by users on mobile devices.

Blackberry has $2.6 billion in cash, though that figure is eroding as the smartphone-maker loses traction in the market.

The company's patents, with an estimated value of between $1 billion and $3 billion, are likely the most attractive BlackBerry asset for Facebook, the Journal speculated.

The patents namely cover security-network technology and smartphone component patents, which would be key to a company seeking to get a head start in the competitive smartphone market. BlackBerry also has about 70 million subscribers.

Last month, the company reached a preliminary deal for a $4.7-billion buyout by Fairfax Financial Holdings Limited, but also left the door open to other offers.

The Journal separately reported earlier this month that Chinese computer giant Lenovo Group Ltd. was mulling a possible counterbid to buy Blackberry, and BlackBerry has signed a nondisclosure agreement with distressed asset specialists Cerberus Capital Management LP.

© AFP 2024


InvestingAnalysis
BlackBerry executives met with their counterparts at Facebook last week over a potential bid for the struggling Canadian phone-maker, The Wall Street Journal reported Wednesday.
Internet,telecom,Facebook,BlackBerry
228
2013-50-30
Wednesday, 30 October 2013 09:50 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved