“Research In Motion Ltd. (RIM), the troubled maker of the BlackBerry smartphone, is in talks to hire a financial adviser that can help it weigh strategic options, according to three people with knowledge of the matter,” Serena Saitto reports for Bloomberg.
“RIM is considering hiring one Canadian bank and one global bank, said one of the people, who asked to remain anonymous because the deliberations are private,” Saitto reports. “Waterloo, Ontario-based RIM last month said it is weighing strategic changes, including licensing the BlackBerry operating system, after its struggle to vie with Apple Inc.’s iPhone and devices that use Android software led to five straight quarters of revenue shortfalls.”
MacDailyNews Take: License this OS and you too can shed market share at rates that cause you to hire banks to “weigh strategy options.”
Saitto reports, “RIM Chief Executive Officer Thorsten Heins said at the time that while the company would consider a sale, that wasn’t ‘the main direction’ he’s pursuing… The company’s willingness to seek help from external advisers suggests a new openness to a takeover or a strategic investment from a management team that had before now spurned bankers’ pitches, the people said. RIM has declined 75 percent in the past 12 months amid market share losses to Apple and smartphone makers that rely on Google Inc.’s Android software.”
Read more in the full article here.
MacDailyNews Take: DCW takes one step closer to the grave.
Last I heard RIM was trying to follow Lehman down the tubes.
Couldn’t happen to a nicer bunch. I hope they continue on this path! ;D
Occasionally, arrogance is repaid with failure. If only it were faster.
I’ve got a bottle of champaign for when the twitching and wheezing stops!
RIMM do have patents which may be useful for AAPL. IMHO…
RIM… is in talks to hire a financial adviser
DEJA VU KODAK 6 MONTHS AGO!
I wonder what that means! 😉
The number of very large publicly traded Companies that have failed since 2000 is mind boggling. I’ve counted over 50 without doing any research. An MBA isn’t as important as people think it is. Common sense accounts for a great deal.
Nobody wants to buy their crap, so you… Hire a financial advisor!!!! Yeah, that ought to fix it. Apple must be quaking in their boots.
Come on Microsoft, you know what to do. You did it before with Nokia.
Big mistake. Never go to a bank for advice. They will recommend that RIM take on a big loan from them to buy a big company in the mistaken hope of realizing synergy and other mumbo-jumbo. That’s Wall Street’s modus operandi on how to profit from an ailing company.