BlackBerry Ltd. (TSX:BB; Nasdaq:BBRY) has formed a committee to look into alternatives to both enhance the company’s value and increase scale to facilitate a more accelerated Blackberry 10 deployment – which could include the sale of the company, BlackBerry announced August 12.
Other possible alternatives, said the company, could include joint ventures or strategic partnerships and alliances.
“During the past year, management and the board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long-term value for customers and shareholders,” said Timothy Dattels, chairman of the committee.
“Given the importance and strength of our technology and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives.”
This announcement comes just over a month after company CEO Thorsten Heins asked shareholders to be patient as the company was in the midst of a transition plan in response to disappointing fiscal first-quarter results.
The transition plan was said to involve a companywide cost-reduction program, supply-chain improvement and the completion of a shareholder-requested management team change, among other steps.
As of press time, BlackBerry’s shares were trading at $10.53, a 4.78% increase in response to the announcement.
