Company restructuring

Fairfax to invest US$1 billion in BlackBerry

BlackBerry logo on F1 car

Fairfax Financial Holdings’ bid to take BlackBerry private may have failed but the company along with other institutional investors will invest US$1 billion into the beleaguered smartphone manufacturer in the form of convertible debentures. These will be convertible into common shares of BlackBerry at a price of US$10.00 per common share, a significant premium over the current stock’s value (and […]

Mobilicity given until December 20 to find buyer

Mobilicity

Mobilicity today got more time from Ontario courts to find itself a buyer. Already under protection from creditors under Canada’s Companies’ Creditors Arrangement Act (CCAA), Justice Frank Newbould of the Ontario Superior Court of Justice extended the protection period until December 20. It had been set to expire on October 30. The company requested the extension as it works to […]

Intel closes Waterloo office

Intel

BlackBerry announced just days go that it had laid off 300 people in Waterloo. Now comes word from Intel that it is closing its Waterloo software development office as well, affecting 18 people. The move appears unrelated to BlackBerry’s decisions. In a statement, Intel Canada explained: “The decision was made after a comprehensive review by Intel Corp. of our current […]