It keeps getting more and more grim for BlackBerry.
The embattled smartphone manufacturer on Monday disclosed that the deal to take the company private was dead, and that it would instead seek $1 billion in convertible debt financing. BlackBerry CEO Thorsten Heins, meanwhile, will step down, to be replaced on an interim basis by former Sybase CEO John Chen.
The overhaul has the makings of another attempt at a fresh start for BlackBerry. The additional financing gives the company a little headroom to operate, adding to its existing cash position. Chen is a respected technology veteran well versed in the … Read more