Visit http://www.latestdigitals.com for the latest technology news. Troubled mobile company Blackberry has reported figures for the second quarter showing a net loss of $965 million. This news comes just days after the company announced it had made an agreement in principal to be sold to a consortium. The deal with Fairfax Financial Holdings Limited is worth approximately $4.7 billion dollars and the consortium would acquire for cash all of the outstanding shares of BlackBerry not held by Fairfax. Disappointing results Fairfax, which currently owns approximately 10 % of BlackBerry’s common shares, intends to contribute the shares of BlackBerry it currently holds into the transaction. President and CEO of Blackberry, Thorsten Heins, said: “We are very disappointed with our operational and financial results this quarter and have announced a series of major changes to address the competitive hardware environment and our cost structure. While our company goes through the necessary changes to create the best business model for our hardware business, we continue to see confidence from our customers through the increasing penetration of BES 10, where we now have more than 25,000 commercial and test servers installed to date, up from 19,000 in July 2013. “We understand how some of the activities we are going through create uncertainty, but we remain a financially strong company with $2.6 billion in cash and no debt. We are focused on our targeted markets, and are committed to completing our transition quickly in order to establish a more focused and efficient company.” Blackberry statement Blackberry put a statement up on its site last week informing customers that there would be a six week period for due diligence.
Trading in Blackberry shares was temporarily halted in New York pending the announcement. Barbara Stymiest, Chair of BlackBerry’s Board of Directors, said: “The Special Committee is seeking the best available outcome for the Company’s constituents, including for shareholders. Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium.”

1. Blackberry
reports $965
million loss
www.latestdigitals.com

2. Blackberry reports $965 million loss
www.latestdigitals.com
Blackberry reports
$965 million loss
For the latest tech news, visit
www.latestdigitals.com
everyday!

3. Blackberry reports $965 million loss
www.latestdigitals.com

4. Blackberry reports $965 million loss
www.latestdigitals.com
Troubled mobile company Blackberry has reported
figures for the second quarter showing a net loss of
$965 million.
This news comes just days after the company
announced it had made an agreement in
principal to be sold to a consortium.
The deal with Fairfax Financial Holdings Limited is
worth approximately $4.7 billion dollars and the
consortium would acquire for cash all of the
outstanding shares of BlackBerry not held by
Fairfax.

5. Blackberry reports $965 million loss
www.latestdigitals.com
Disappointing
results for
Blackberry

6. Blackberry reports $965 million loss
www.latestdigitals.com
Fairfax, which currently owns approximately 10 % of
BlackBerry’s common shares, intends to contribute
the shares of BlackBerry it currently holds into the
transaction.
President and CEO of Blackberry, Thorsten Heins,
said: “We are very disappointed with our
operational and financial results this quarter and
have announced a series of major changes to
address the competitive hardware environment
and our cost structure. While our company goes
through the necessary changes to create the best
business model for our hardware business, we
continue to see confidence from our customers

7. Blackberry reports $965 million loss
www.latestdigitals.com
through the increasing penetration of BES 10, where
we now have more than 25,000 commercial and
test servers installed to date, up from 19,000 in July
2013.
“We understand how some of the activities we are
going through create uncertainty, but we remain a
financially strong company with $2.6 billion in cash
and no debt. We are focused on our targeted
markets, and are committed to completing our
transition quickly in order to establish a more
focused and efficient company.”

8. Blackberry reports $965 million loss
www.latestdigitals.com
Blackberry
statement

9. Blackberry reports $965 million loss
www.latestdigitals.com
Blackberry put a statement up on its site last week
informing customers that there would be a six week
period for due diligence. Trading in Blackberry
shares was temporarily halted in New York pending
the announcement.
Barbara Stymiest, Chair of BlackBerry’s Board of
Directors, said: “The Special Committee is seeking
the best available outcome for the Company’s
constituents, including for shareholders. Importantly,
the go-shop process provides an opportunity to
determine if there are alternatives superior to the
present proposal from the Fairfax consortium.”

10. Blackberry reports $965 million loss
www.latestdigitals.com
For the latest tech news, visit
www.latestdigitals.com
everyday!