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PE firm makes buyout offer for BlackBerry

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Aug 28, 2023

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Next-gen Cybersecurity

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Aug 28, 2023

PE firm makes buyout offer for BlackBerry

M&A

BlackBerry, the former smartphone maker that now develops cybersecurity and embedded systems software, has reportedly received a takeover offer from private equity firm Veritas Capital, according to Reuters and Bloomberg. The company is also reportedly in discussion with other potential buyers.
In May, BlackBerry completed the sale of legacy patents related to its mobile devices to Malikie Innovations Limited in a deal valued at USD 900 million and announced it would review strategic options for its core portfolio, including the potential separation of one or more of its businesses.
BlackBerry shares (NYSE:BB) rose 17% on the offer news.
Analyst QuickTake: BlackBerry is the latest in a growing group of publicly traded cybersecurity companies considering a sale. Earlier in August, SentinelOne was reportedly seeking investment bank assistance for a buyout, with Wiz recently rumored to be a potential buyer. According to reports, Rapid7 was considering a takeover offer from a PE firm in the same month. IronNet also announced intent to delist in July as part of an agreement to be taken private by C5 Capital.

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