BlackBerry co-founder and former co-CEO acquiring company through a joint bid with a fellow co-founder

Mike Lazaridis, a BlackBerry co-founder and former co-CEO, has officially ditched his plans to acquire the company through a joint bid with a fellow co-founder. Mike Lazaridis dumps his plans to buy the ailing smartphone maker via a joint bid with a fellow co-founder.

This year has been an especially hard one for BlackBerry. After lagging further and further behind the competition, the company placed its last-ditch hopes on two new smartphones, both of which failed to save the company. BlackBerry lost $4.4 billion in the most recent quarter. Lazaridis made his decision public in a Securities and Exchange Commission filing on Tuesday. 

Under the now-defunct plan, which was announced in October, Lazaridis and fellow co-founder Douglas Fregin had combined stakes to reach 8 percent total ownership and said they were considering a purchase of the company. Last month, however, BlackBerry took itself off the market, and new management is trying to turn the company around. In dissolving the plan, Lazaridis' stake in the sagging company is now 4.99 percent.

Views: 3202
Tag:
BlackBerry Phones

News Tags

Latest News

Google Pixel 2 and 2 XL getting 3 years Android version and security updates

Google Pixel 2 and 2 XL getting 3 years Android version and security updates

OPPO F5 Youth suddenly appeared with regular OPPO F5

OPPO F5 Youth suddenly appeared with regular OPPO F5

Nokia 7 goes official with dual sight technology

Nokia 7 goes official with dual sight technology

Android 8.1 coming to new Pixel 2 and Pixel 2 XL, Google confirmed

Android 8.1 coming to new Pixel 2 and Pixel 2 XL, Google confirmed

Popular News

Samsung Galaxy J7 Plus and J7 Core launched for $390 and $200 respectively

Samsung Galaxy J7 Plus and J7 Core launched for $390 and $200 respectively

Huawei Mate 10, Mate 10 Pro and Porsche Design launched with new Kirin 970

Huawei Mate 10, Mate 10 Pro and Porsche Design launched with new Kirin 970

Xiaomi Redmi 5A (red rice 5A) goes official with amazing long life battery

Xiaomi Redmi 5A (red rice 5A) goes official with amazing long life battery

OPPO F5 to launch on October 26 in Asian countries, Philippines getting it first

OPPO F5 to launch on October 26 in Asian countries, Philippines getting it first

Read User Comments

Post You Comment

Name: *
Email: (hidden) *
Your Comment:
Capcha - 8 + 4 =

Top Brands

All Brands ➤