BlackBerry denies it talked to Samsung about a buyout

14.01.2015
BlackBerry has flatly denied a report that it met with Samsung Electronics to discuss a proposed $7.5 billion buyout by the South Korean powerhouse.

The Reuters news service reported on Wednesday that Samsung had offered to buy BlackBerry for between $13.35 and $15.49 per share. Its story cited documents and an unnamed source. The report sent BlackBerry's stock up dramatically late in the trading day. Its shares on the Nasdaq (BBRY) ended at $12.60, up by nearly 30 percent.

"BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry," the company in Waterloo, Ontario, said in a statement late Wednesday.

Though BlackBerry is far from the mobile player it once was, it still has respected security technology, patents, automotive and industrial software from its QNX division, and a loyal following among users in enterprises and some developing markets.

Samsung makes more smartphones than any other company in the world but recently has seen its sales and profits decline.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com

Stephen Lawson

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