Veritas Capital, a private equity company, has made a bid for Canadian technology company BlackBerry, reported Reuters citing sources.

According to the sources, Veritas submitted an offer for the entire business and BlackBerry is also in talks with other interested parties.

No information was available about the specifics of the offer.

Requests for comments from Veritas and Blackberry were not immediately fulfilled.

In May this year, BlackBerry initiated a review of its portfolio of businesses to explore strategic alternatives that can boost shareholders’ value.

These alternatives cloud involve splitting up one or more of BlackBerry’s operations, but they are not limited to that, the company said at the time.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The business, which was established in 1984, currently develops cybersecurity and automotive software.

In the early 2000s, BlackBerry became well-known for its business smartphones.

Last year, it decided to stop selling smartphones, and since then, it has been attempting to sell the legacy patents it holds for mobile devices.

Recently, BlackBerry sold all its non-core patents and patent applications to Malikie Innovations in a deal valued at $900m.

In 2016, BlackBerry said that it would stop producing its classic devices.

The company has been working to reinvent itself as a high-end software supplier ever since.

Now, BlackBerry has two main businesses; one produces “Internet-of-Things” products, and the other is a cybersecurity software developer.

BlackBerry has roped in Morgan Stanley and Perella Weinberg Partners as financial advisors for the strategic review of business.