TechTaffy

tech:

taffy

BlackBerry Going Private In $4.7B Deal

By TechTaffy Desk

BlackBerry

BlackBerry has signed a letter of intent agreement under which a consortium led by Fairfax Financial Holdings has offered to acquire the company. Shareholders would receive $9 in cash for each share of BlackBerry share they hold, and the transaction is valued at roughly $4.7 billion. The BlackBerry board has approved the terms of the deal.

Fairfax, which owns approximately 10 percent of BlackBerry’s common shares, intends to contribute the shares of BlackBerry it currently holds into the transaction.

J.P. Morgan and Perella Weinberg are acting as financial advisors and Skadden, Arps, Slate, Meagher & Flom and Torys are acting as legal advisors for BlackBerry.

BDT & Company, BofA Merrill Lynch, and BMO Capital Markets are acting as financial advisors, and Shearman & Sterling and McCarthy Tétrault are acting as legal advisors to Fairfax.

[Image courtesy: BlackBerry]

Just in

Artificial Intelligence

Amazon to invest up to $4B in Anthropic

Amazon will invest up to $4 billion in Anthropic, and will acquire a minority ownership stake in the company. The two companies also announced a strategic agreement aimed at the development of generative artificial intelligence (AI) models.  
Series A

Mesh raises $22M

San Francisco, CA-based Mesh, a company working on simplifying digital asset transfers, crypto payments, and account aggregation, has raised $22 million in a Series A funding round.
IT

Cisco to acquire Splunk for $28B

Cisco and Splunk have announced an agreement where Cisco will acquire Splunk for $157 per share in cash, summing up to approximately $28 billion in equity value.
Series A

DynamoFL raises $15.1M

San Francisco, CA-based DynamoFL, has raised $15.1 million in a Series A funding round.
Industry

NetApp, Google Cloud collaborate to provide enterprise storage solutions

NetApp has announced the expansion of its collaboration with Google Cloud to introduce Google Cloud NetApp Volumes.