David Flynn, Primary Data, at Launch-A-Rama 2014 with John Furrier
@theCUBE
#primarydata
Another plot twist for the troubled tale of BlackBerry’s sale – it is no more. The Canadian phone maker has abandoned its plan to sell its assets, instead raising around $1 billion from its largest shareholder et al., trying once again to resuscitate its relevance.
It appears the dead deal puts Fairfax, the BlackBerry shareholder originally set to acquire BlackBerry, in a better position to maintain influence and returns on BlackBerry’s portfolio. Reuters reports:
“Fairfax announced a tentative $9-a-share offer for BlackBerry in late September, but Reuters reported on Friday that it was struggling to fund the $4.7 billion bid.
Moody’s had warned in September that the transaction would hurt Fairfax’s credit profile because it would result in the conversion of a public equity investment into a private structure.”
New CEO, new strategy… again
The restructured deal means BlackBerry will need to refocus on its business instead of a sale, and those changes are reflected at the executive level. With news of BlackBerry’s reneged sale is the announcement that CEO Thorsten Heins will step down in about two weeks when the private placement of convertible debentures is expected to close. Stepping in as interim CEO is John Chen, former CEO of Sybase, a database software firm acquired by SAP in 2010.
Chen will also serve as BlackBerry’s new executive chairman, and has been a senior advisor with private equity group Silver Lake last year.
Heins wasn’t in the CEO chair for very long, taking over BlackBerry when its long-standing co-CEO setup stopped working. With another changeup in the executive office, BlackBerry’s troubles are reiterated with the call for new leadership, and a new direction.
Chen’s knowledge of the software world could be helpful as BlackBerry determines its next move. The company has been re-jigging its strategy for the past three years, seeking a balance between hardware and software in a market that rather quickly caught up to its on-the-go productivity edge.
There’s three areas BlackBerry needs to develop if it hopes to survive on its own, having thrown itself back into a ruthless mobile market. Rebuilding its consumer appeal, leveraging its connections in the enterprise, and broadening its software reach across rival platforms.
Here are some recent assets we’ve published on these three points.
.
excerpt
For BlackBerry, YOU Are Its Path to the Enterprise
What the new BlackBerry needs is a clear path back into the enterprise. It was an easy task a decade ago, when email was the killer app and companies were quick to hand out BlackBerries to employees. Those days have been replaced with employee-driven decisions, like which phone they want to use. And when device selection is left to the end user, Apple and Google come out the winners, leaving BlackBerry, Microsoft and Nokia out in the cold.
Wikibon Senior Analyst Stu Miniman says that for BlackBerry to have a chance of catching up, its phones will have to be a lot more consumer-friendly than they are now. According to him, BB10 is still a “half-baked product,” giving BlackB
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David Flynn - Primary Data Launch-A-Rama - theCUBE
David Flynn, Primary Data, at Launch-A-Rama 2014 with John Furrier
@theCUBE
#primarydata
Another plot twist for the troubled tale of BlackBerry’s sale – it is no more. The Canadian phone maker has abandoned its plan to sell its assets, instead raising around $1 billion from its largest shareholder et al., trying once again to resuscitate its relevance.
It appears the dead deal puts Fairfax, the BlackBerry shareholder originally set to acquire BlackBerry, in a better position to maintain influence and returns on BlackBerry’s portfolio. Reuters reports:
“Fairfax announced a tentative $9-a-share offer for BlackBerry in late September, but Reuters reported on Friday that it was struggling to fund the $4.7 billion bid.
Moody’s had warned in September that the transaction would hurt Fairfax’s credit profile because it would result in the conversion of a public equity investment into a private structure.”
New CEO, new strategy… again
The restructured deal means BlackBerry will need to refocus on its business instead of a sale, and those changes are reflected at the executive level. With news of BlackBerry’s reneged sale is the announcement that CEO Thorsten Heins will step down in about two weeks when the private placement of convertible debentures is expected to close. Stepping in as interim CEO is John Chen, former CEO of Sybase, a database software firm acquired by SAP in 2010.
Chen will also serve as BlackBerry’s new executive chairman, and has been a senior advisor with private equity group Silver Lake last year.
Heins wasn’t in the CEO chair for very long, taking over BlackBerry when its long-standing co-CEO setup stopped working. With another changeup in the executive office, BlackBerry’s troubles are reiterated with the call for new leadership, and a new direction.
Chen’s knowledge of the software world could be helpful as BlackBerry determines its next move. The company has been re-jigging its strategy for the past three years, seeking a balance between hardware and software in a market that rather quickly caught up to its on-the-go productivity edge.
There’s three areas BlackBerry needs to develop if it hopes to survive on its own, having thrown itself back into a ruthless mobile market. Rebuilding its consumer appeal, leveraging its connections in the enterprise, and broadening its software reach across rival platforms.
Here are some recent assets we’ve published on these three points.
.
excerpt
For BlackBerry, YOU Are Its Path to the Enterprise
What the new BlackBerry needs is a clear path back into the enterprise. It was an easy task a decade ago, when email was the killer app and companies were quick to hand out BlackBerries to employees. Those days have been replaced with employee-driven decisions, like which phone they want to use. And when device selection is left to the end user, Apple and Google come out the winners, leaving BlackBerry, Microsoft and Nokia out in the cold.
Wikibon Senior Analyst Stu Miniman says that for BlackBerry to have a chance of catching up, its phones will have to be a lot more consumer-friendly than they are now. According to him, BB10 is still a “half-baked product,” giving BlackB
