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Samsung Offering to Buy BlackBerry for $7.5 Billion

In November we posted an extensive report titled "BlackBerry and Samsung Form Alliance to Challenge Apple-IBM." It was the first time that those two companies agreed to work together. BlackBerry introduced new authentication technologies in November and a new video conferencing app. It's being reported this afternoon that Samsung is offering to buy BlackBerry out in order to get their hands on their highly valued intellectual property portfolio. Report Update Jan 15: BlackBerry denies rumor


It's being reported this afternoon that Samsung has recently approached BlackBerry Ltd to buy the company for as much as $7.5 billion, looking to gain access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters.


South Korea's Samsung proposed an initial price range of $13.35 to $15.49 per share, which represents a premium of 38 percent to 60 percent over BlackBerry's current trading price, the source said.


In January BlackBerry's CEO John Chen told David Pogue that it’s their security that makes the BlackBerry phones, and the BlackBerry data network, the best option for people concerned about privacy and security. As he pointed out, world leaders, including President Obama, use BlackBerry devices. He also took the opportunity to take a kick at Apple's iCloud security.


Jan 15, 2015 2:35 AM:BlackBerry's Official response to the the Rumor


"BlackBerry Limited ("BlackBerry") is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry's policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further."

Disappointingly the "documents seen by Reuters" were worthless. 


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