Filled to the RIM -- With Fail

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.

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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.

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