Saturday, Jul 23, 2016
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Technology

BlackBerry reportedly weighing going private

WATERLOO, Ont. — Shares of BlackBerry Ltd., the Canadian smart-phone maker, climbed 5.7 percent after Reuters reported that the slumping company is mulling going private.

Chief Executive Officer Thorsten Heins and the board are coming around to the idea that going private would give them the leeway to fix problems out of the public view, Reuters reported, citing unidentified sources. No deal is imminent, according to the story.

The company, which released its BlackBerry 10 lineup this year in a bid to win back market share, has suffered from lackluster demand and a fizzling stock rally. Last month the price of its Z10 flagship touch-screen model was cut to $49.99.

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