Technology is getting bolder day by day and this has created very tough competition for all. Android has been engaged with so many companies with their flexible operating system and has made a progressive graph for them. Same is happening with Apple company after their recent updates.
Besides the increasing competition, BlackBerry is suffering a lot with its old and dull operating systems and technologies, due to which they had faced loss of millions. They already had shorted more than 4000 of their employees. The company has estimated a loss of 1 million every year with the dropping sales of its company. BlackBerry has reached a lowest of 3.7% market shares as per International Data Corporation. Hence they announced to sell off the company so as to coverup the things and invited tenders for the same.
The company which is holding the maximum number of BlackBerry shares i.e. Fairfax will be taking over the company. The Fairfax founder, Mr. Prem Watsa is an Indian from Hyderabad, currently residing in Canada. He was one of the directors in BlackBerry and resigned from the job after the announcement of its disposal. People were thinking that Vatsa will definitely do something to take the company out of this loss.
Vatsa was born in 1950 in Hyderabad. He is a B.Tech in chemical engineering from IIT Madras. He did his post graduation in business administration from University of Ontario and started his company in 1985.
Today he is the biggest share holder with 10% market shares of BlackBerry.
Prem Watsa had offered 4.7 billion US dollars for acquiring the company and the board of directors had welcomed the offer too. If deal gets to the final stage, Prem Watsa will be the next owner of BlackBerry. But other companies may also show their interest in this and make out an option for the same.