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BlackBerry Founder And Former CEO Wants To Buy The Company

BlackBerry has gone through a lot of ordeals over the past few years. It has fallen from being a leader in the smartphone industry to a company which is unable to earn profits any more. While the talk of BlackBerry’s acquisition is in the air, the company’s founder Mike Lazaridis has said that he is considering the option of buying all its shares.


Mike Lazaridis

Although BlackBerry has tried to reboot its former glory through BB10 handsets, the company has failed to gain any traction in the smartphone market. As a result, BlackBerry has been bagging quarterly losses, year after year.

Recently, things seem to take a conclusive turn for BlackBerry when it was revealed that the company has struck a deal with Fairfax Financial Holdings Limited leading a consortium of multiple companies. The deal, which has been announced but is yet to happen, lets the consortium acquire BlackBerry for $4.7 billion.

Now, the founder of BlackBerry and former CEO, Mike Lazaridis, has cited his interest in purchasing the very company he founded. Lazaridis and BlackBerry co-founder, Douglas Fregin, still own 8 percent share in the company. The duo have submitted a filing to the US Securities and Exchange Commission, stating that they “are considering all available options with respect to their holdings of the shares, including, without limitation, a potential acquisition of all the outstanding Shares of the Issuer that they do not currently own, either by themselves or with other interested investors.”

Currently, both co-founders are busy in trying to find such investors who will back their attempt to purchase BlackBerry’s shares. Naturally, they will have to muster funds to the tune of $4 billion or so if they are serious in their efforts.

Courtesy: Arstechnica

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