Last Updated : 2019-07-22 00:06:00

RIM considers splitting business in two: paper

25 June 2012 04:11 am - 0     - {{hitsCtrl.values.hits}}

A A A

BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported.

RIM, which last month hired JP Morgan and RBC Capital to look at its strategic options, could break off its handset division into a separate listed company or sell it, the British newspaper said without citing sources.

Potential buyers would include Amazon and Facebook, it reported, adding that RIM's messaging network could also be sold, or opened up to rivals such as Apple and Google to generate income.

An alternative option would be to keep the company together but sell a stake to a larger technology firm such as Microsoft, the newspaper said.

RIM said in a statement that it continued to believe the best way to drive shareholder value was to execute its turnaround plan.

RIM virtually invented the concept of on-your-hip email with its first BlackBerry devices, but now finds itself struggling badly in the smartphone market.

Last year, it held numerous takeover discussions with potential buyers ranging from Amazon and Microsoft Corp to private equity firms, sources have previously told Reuters. But those talks never resulted in an M&A transaction under former co-chief executives Mike Lazaridis and Jim Balsillie.

(Reporting by Kylie MacLellan; Additional reporting by Alastair Sharp in Toronto; Editing by Catherine Evans and Edwina Gibbs)

(Source : Reuters)

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment


Sri Lanka cricket through the eyes of Paul Farbrace

During the World Cup in England and Wales, the Sunday Times caught up with Pa

Sri Lanka yet to play to their potential--Rumesh Ratnayake

After England amassed 397 runs against Afghanistan—the highest in the tourn

Dinesh Chandimal- 2018 ODI Captain to 2019 World Cup ‘spectator’

In 2018, Dinesh Chandimal scored 298 runs at 42.52 in One-Day Internationals

Singling out of Rishad Bathiudeen as a political target

The orchestrated political campaign by the Mahinda Rajapaksa-led opposition i

MIRROR CRICKET