BlackBerry Ltd. co-founder Mike Lazaridis’s potential bid for the struggling smartphone maker would face a battle for financing with Canadian investor Prem Watsa, who’s looking to take it private with his own buyout.
Mike Lazaridis, inventor of the BlackBerry smartphone, is starting a C$100 million ($97 million) quantum technology fund that’s aiming to turn devices like the medical tricorder from “Star Trek” into reality.
BlackBerry founder Mike Lazaridis said he’s confident that users of iPhones and other devices will embrace the company’s BlackBerry Messenger platform, which will be offered on rival phones later this year.
As recently as five weeks ago, Jim Balsillie, who helped build Research In Motion Ltd. into Canada’s biggest company by market value, was showing no signs that he was about to step aside as investors pushed for management changes at the BlackBerry maker.
BlackBerry Ltd. co-founder and former Chief Executive Officer Mike Lazaridis walked away from a possible takeover plan and reduced his stake in the struggling smartphone maker after it ended an attempt to sell itself.
Fairfax Financial Holdings Ltd., which has until Nov. 4 to firm up its $4.7 billion bid for BlackBerry Ltd., has yet to arrange financing to take the company private, said people with knowledge of the matter.