Private equity firm Veritas Capital is reportedly in talks to buy BlackBerry Ltd, according to a person familiar with the matter. The talks are ongoing and there is no guarantee that a deal will be reached, the person said.
If a deal is reached, it would mark the end of an era for BlackBerry, which was once a leading smartphone maker. The company has since pivoted to software and cybersecurity, but it has struggled to keep up with rivals like Apple and Google.
Veritas Capital is a technology investor that has a history of buying and turning around struggling companies. The firm is known for its long-term investment approach and its focus on operational improvement.
A buyout by Veritas Capital would give BlackBerry the resources it needs to invest in its software and cybersecurity businesses. It would also provide the company with a stable ownership structure, which could help it attract new customers and partners.
BlackBerry shares rose 17 per cent on the news of the talks. The company’s market capitalization is currently about $3.1 billion.
The sources for this piece include an article in Reuters.