Printed from http://www.electronista.com

BlackBerry unloading real estate, pens handset deal with Pentagon

updated 06:20 pm EST, Tue January 21, 2014

Three million square feet of buildings to be put up for sale

In what may be the beginning of a turnaround for the Canadian cellphone maker, Blackberry has seen a resurgence in its stock price from a reported Pentagon order of 80,000 devices. Additionally, the company is strategically divesting the majority of its Canadian real estate through both a sale and lease-back to Blackberry, as well as outright sale of its empty properties.

Earlier today, the US Department of Defense announced the purchase order for the devices as part of its "new mobile program for unclassified work." On the news, BlackBerry's share prices climbed 12.5 percent to $10.24 per share. This purchase is separate from BlackBerry's and other manufacturer's continued evaluation for a next-generation secure network for the DoD.

In regards to the property sales, BlackBerry hasn't revealed how much it expects to recoup from the property sales. Over three million square feet of office space will be sold. CEO John Chen noted that "this initiative will further enhance BlackBerry's financial flexibility and will provide additional resources to support our operations as our business continues to evolve."



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News