End of Canada’s Tech Era ? BlackBerry May be Acquired, Price Has Risen for 4 Days
Recently, news about the possible acquisition of $BlackBerry(BB)$ has been flying all over the sky.
Media reports on Friday said that private equity firm Veritas Capital is considering buying BlackBerry, while other suitors are also interested in buying some or all of the company's business. However, negotiations are still in the initial stages and Veritas could change its mind at any time. Earlier this year, BlackBerry announced that it would conduct a strategic review, and one of the options was to divest or sell parts of the company's business.
BlackBerry was once a Canadian technology giant and a symbol of the Canadian technology industry, but since its defeat in the smartphone market, the company's transformation has not been considered a success. If BlackBerry is really acquired this time, some analysts pointed out that this will mark the "end of an era" in the Canadian technology industry.
BlackBerry Bold 9700 Price In Hong Kong 2023, Mobile Specifications | MobGsm (HK)
Carmi Levy, a technology analyst at Step Software, said in a television interview on Monday that the sale of BlackBerry would mark "the end of an era" in Canada's technology industry.
Levy said that since John Chen took over as CEO in 2013, people's expectations for BlackBerry's turnaround are still high, but the company has not mastered the situation since it abandoned the smartphone market and transformed into other areas such as network security and automotive technology. Larger market share. He said the company came up with some good but not amazing products that didn't stand out. When you mention the BlackBerry brand, these products don't have a strong presence.
After the Veritas acquisition news was announced, BlackBerry's stock price rose nearly 20% last Friday and rose for four consecutive days as investors expected the company to be acquired at a premium.
However, Levy is not too sure about this optimistic expectation of the market. Don't have high expectations, he said. There may be a premium to the purchase price, but it is not expected that there will be too many bargains to pick up. Ultimately, BlackBerry is not a significant player.
Bloomberg Intelligence pointed out that the company's network security software business faces fierce competition, and the company's Internet of Things products are used in the automotive industry and have better growth.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Great ariticle, would you like to share it?