Lenovo Reportedly Bidding to Acquire BlackBerry
Blackberry was once a device of choice for major celebrities and business professionals alike. Now after the emergence of the touch-screen revolution, it has found it hard to cope with the competition. Even though its features have been well appreciated, there have been fewer takers of its devices every quarter.
Now Lenovo, the Chinese company which has gobbled up some iconic business such as IBM’s workstation and Motorola Mobility, is now making a bid to acquire the Canadian firm. Benzinga claims that Lenovo might put forward the bid as early as this week.
The company is expected to make the starting bid of $15.00 per share and is expected to be closed at around $18.00 per share. BlackBerry shares have been hovering around the $9 mark, and this would seem like a profitable option for the company’s shareholders.
Lenovo had previously made a bid for BlackBerry last year. It was though blocked by the Canadian government. One of the major causes cited for the block was that Lenovo is a Chinese company, and the government didn’t want any mobile infrastructure falling into the hands of a Chinese Company.
Though it is unsure whether the Canadian government will allow a merger this time around. It sure will be a long process to convince the government the security of data. It is especially a concern because Blackberry is still used by entrepreneurial and government officials. They deal with sensitive data, and it might be a cause of concern for everyone using the device. This is a developing story, and we’ll keep our eyes on it. Come back for more.