The inevitable always seems to happen, and there it goes again:
BlackBerry announced Monday that it has agreed to be acquired by Toronto-based Fairfax Financial Holdings Limited for $4.7 billion.
The beleaguered smartphone company said it had signed a letter of intent with Fairfax, which owns about 10 percent of BlackBerry’s common shares. The deal would deliver about $9 a share to shareholders and take the company private.
Let’s be honest here. Fairfax is buying patents and maybe some backend stuff. The rest of the company will be sold for scrap. That’s it for BlackBerry smartphones.
They invented a market, but they couldn’t keep it.