Co-founder and former co-CEO of BlackBerry, Mike Lazaridis, has been in talks with private equity companies for making a bid for the struggling Canadian smartphone vendor. The news, reported by WSJ, comes shortly after BlackBerry announced its preliminary quarter results where it expects to post a loss of $1 billion. BlackBerry, once a popular smartphone brand has struggled in recent years and is now laying off 4,500 employees or 40 percent of its global workforce and will exit the consumer market to focus on enterprise segment.
Lazaridis, who co-founded BlackBerry with Jim Ballsillie, resigned as the co-CEO in January last year amid a series of delays in launching devices running on a new platform that BlackBerry acquired in 2010. He is reported to have reached out to Blackstone Group and Carlyle Group to stage a bid for the company.
BlackBerry, which has been looking for a buyer since last year, officially announced last month that it was up for sale and was looking at “strategic alternatives.” If reports are to be believed, the company hopes to achieve a sale by November but the possibility is looking bleaker by the day, especially after this weekend’s messy BBM for Android and iOS launch, which had to be paused. In all possibility, BlackBerry will be split into multiple parts that will be sold off individually.