BlackBerry could become part of the “Samsung family” after all, as the South Korean tech giant is actively pursuing a takeover plan, sources speaking to the Financial Post and a document issued in the last calendar quarter of 2014 reveal.
Despite negations from both sides – both BlackBerry and Samsung denied any acquisition talks – there is evidence of Samsung being interested in the Canadian company in the form of a document outlining the case for a possible takeover. That document was prepared by New York–based independent investment bank Evercore Partner during Q4 of 2014.
“I can tell you Samsung is contemplating a purchase,” said the source, who asked to remain anonymous because of the sensitive nature of the talks. “It’s still being pursued right now. Samsung is still evaluating their options. So it’s still very much an open deal.”
Fact is, looking forward, BlackBerry’s future is looking good: Its CEO John Chen has successfully orchestrated the first part of the turnaround plan, so the company’s revenue should begin its road upwards. The charts compiled by Evercore show that BlackBerry’s hardware revenue will stabilize, and that its software revenue will almost triple from $235 million to $636 million by 2017.
These numbers paint a bright future for the struggling tech company. But you know if you get a $8 billion offer, you may get the support of major shareholders such as Prem Watsa, CEO of Fairfax Financial Holdings. At least this is what the document suggests.
“We believe that at the upper end of that US$15 price, Prem Watsa is going to be very supportive of this deal,” the source said.
In the end, the whole BlackBerry–Samsung takeover story began two years ago. The two companies started collaborating to force-enter the enterprise market, and there is documentation about a possible buyout scenario, so we cannot exclude that deal. The two may sign papers while the blogosphere is chewing on John Chen’s take on app economy discrimination.