Is Lenovo mulling BlackBerry bid?

Could Lenovo Group Ltd. be positioning itself to make a bid for BlackBerry Ltd.? There were reports today that the Chinese personal computer maker had signed a “non-disclosure” agreement to look into the books of the Canadian smart phone company.

People familiar with the matter said that Lenovo is actively considering such an option, according to a report on the inline financial new publication

If the reports are true, this would group Lenovo among the potential organizations eyeing the troubled company. BlackBerry has already reached tentative $4.7 billion buyout deal with Canadian insurance firm Fairfax Financial Holdings Ltd.

Two weeks ago there were also reports that the Cerberus Capital Management LP, a New York-based private equity firm was also considering to make a bid for BlackBerry.

Last week, BlackBerry co-founders Michael Lazaridis and Douglas Fregin were reported to have hired investments Goldman Sachs and Centerview Partners to look into their options for a possible joint bid for BlackBerry.

Yang Yuanquing, CEO of Lenovo, actually went on the record in March this year to say that he is weighing the pros and cons of possibly acquiring BlackBerry.

“As for BlackBerry, the file could eventually make sense, but I must analyze the market and understand the exact weight of this company,” he was quoted as saying by the French newspaper Les Echos.

A month earlier Wong Wei Ming, CFO of Lenovo was quoted by media as saying that Lenovo was “looking at all opportunities” including BlackBerry.

Nestor E. Arellano
Nestor E. Arellano
Toronto-based journalist specializing in technology and business news. Blogs and tweets on the latest tech trends and gadgets.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

ITW in your inbox

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

More Best of The Web