BlackBerry forms committee to explore 'strategic alternatives,' including alliance or sale of companyAlex Wagner - Deputy Managing Editor, News Desk
Big news out of BlackBerry this morning, as the company's board of directors has announced that it's formed a special committee to explore strategic alternatives in an effort to enhance BlackBerry's value, increase its scale and speed up the deployment of BlackBerry 10. Some of these options that BlackBerry says could be considered include joint ventures, strategic partnerships or even a sale of the firm.
The special committee is made up of five members, including BlackBerry CEO Thorsten Heins. JP Morgan Securities LLC has been hired to serve as BlackBerry's financial advisor during the process, and the company formerly known as RIM has also brought on two different law firms to be its legal advisors.
BlackBerry notes that although it's looking at several different strategic options, there's no guarantee that any action will be taken. It also has no plans to discuss the committee or its efforts until it either decides to take action on a specific option or concludes the review process.
This isn't the first time that BlackBerry has conducted a review of its business and performance, but so far we've yet to see the company take any major actions. Whether that'll change this time around remains to be seen, but it's still big news to see that BlackBerry is once again exploring its options. BlackBerry launched its new BlackBerry 10 operating system earlier this year, but recent market share reports have shown that the Canadian firm is losing ground to its competition. What do you think BlackBerry should do to turn itself around?