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Nigeria Tech
BlackBerry Reaches Agreement To Sell Its Real Estate Holdings In Canada
The struggling Canadian smartphone with manufacturing company have reached agreement to sell most of its real estate holdings in Canada to help the company have enough cash to turn the company around.
According to bloomberg, BlackBerry will sell more than 3 million square feet of space, plus vacant properties and lease back some of it in transaction expected to close by the end of May.
Although the Waterloo based company didn't disclose the name of the company buying over its real estate, it is believed that whoever or which ever company is involved with making the deal with BlackBerry will have to part with as much as $491 million dollar.
This $491 million will be based on sales prices for previous BlackBerry buildings and leaseback agreements as said by Ted Davis a property broker with Avison Young Inc. who specialises in southwestern Ontario.
These are desperate times for BlackBerry which calls for extreme measures by the company to gain a sizeable amount of cash in the bank so as to turn around the seemingly down sliding company.
According to Chen, the property deal "will help us move toward our goal of continued operational efficiency".
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- Blackberry's Plan For 2016
BlackBerry Inc. formerly known as Research In Motion have been taking new strides in the past months in other to stay relevant in the smartphone industry. For the most parts, the plan is working and BlackBerry is seeing substantial attention from smartphone...
- Blackberry Vows To Prosecute Leakers Of Its Products
New developments coming from the BlackBerry company, specifically from John Chen, CEO of BlackBerry is that there will be a strong crackdown on those personnel or individual that is responsible for leaking company's confidential information. ...
- Blackberry Sues Company Behind Typo Keyboard Cover For Iphone
It's now a normal thing for smartphone manufacturers to sue one other over patent infringement However, it's not yet very normal to see a big smartphone company suing a small start-up company over patent infringement. BlackBerry at this...
- Blackberry Sold To Fairfax For $4.7 Billion
Most of the media was busy bashing and writing about the 4500 job cut and the almost $1 billion loss being the last nail in the coffin for BlackBerry. Not to even talk about the failed launch of BBM for Android and iPhone last week, today...
- Samsung Is Doing Everything To Extinct Blackberry
It is very clear by now that Blackberry is seriously grasping for breath in the smartphone market. All efforts to resuscitate the dying company is not yielding any significant fruit yet. BlackBerry have been the device of choice for the US FBI agent for...