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Samsung slams reports linking it to $7.5bn BlackBerry purchase

Samsung slams reports linking it to $7.5bn BlackBerry purchase

Written by: Paul Withers

Posted on: 15 January 2015. Tags: BlackBerry, Classic, Mobile News, Samsung

BlackBerry denies talks around $7.5bn sale to Samsung

Report from Reuters claims executives from both manufacturers met last week to discuss a potential deal that could see Samsung acquire around 44,000 patents from BlackBerry 

BlackBerry has denied reports it has entered talks to sell its business to Samsung for $7.5 billion.

According to a report from Reuters, which cited a person close to the matter and documents it had seen, executives from both companies met last week to discuss a potential transaction.

The deal would likely be centred around 44,000 patents currently held by BlackBerry, worth more than $1.43 billion in value as of August, with Samsung looking to further its competition with Apple.

However, BlackBerry quickly released a statement denying it had begun talks with Samsung over a possible sale of the company to the Korean manufacturer.

“BlackBerry has not engaged in discussions with Samsung with respect any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumour and speculation, and accordingly it does not to comment further.”

Reuters said if the deal was to proceed, it would face regulatory scrutiny in both Ottawa and Washington and under Canadian law, any foreign takeover of BlackBerry would acquire government approval under the Industry Canada Act.

It added Samsung and its advisors also think the approval process at the Committee on Foreign Investment in the US (CFIUS) would be complex. Reuters said the this committee reviews deals for national security implication.

In November, BlackBerry announced a partnership with Samsung that will see its BES 12 enterprise mobility management suite integrated into Samsung’s Knox security software.

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