Fairfax Abandons BlackBerry Deal, but the Future of QNX Software Systems Is Still Unclear

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4Q 2013 | IN-1017470

 

Fairfax Values BlackBerry at Just $4.7 Billion

NEWS


In late September 2013, BlackBerry revealed that it had reached a preliminary deal to be acquired by a consortium led by Fairfax Financial Holdings Limited. Led by former BlackBerry chairman, Prem Watsa, Fairfax is the largest single shareholder in BlackBerry and owns approximately 10% of the company. Watsa has reportedly been working for several months with the Canada Pension Plan Investment Board and other Canadian pension companies to raise the $4.7 billion agreed for the sale.

Following a period of due diligence, which lasted several weeks, BlackBerry announced on November 5 that the Fairfax deal had fallen through and it was abandoning a plan to find a buyer. Instead, the company will attempt to raise $1 billion of new funds and replace its CEO and some directors.

QNX Dominates the Global Automotive OS Market

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