BlackBerry maker Research In Motion has turned down Amazon.com and other parties that have expressed interest in purchasing the company, Reuters is reporting.
RIM has made a number of failed attempts to reinvent itself and inject new energy into the company — think: BlackBerry Torch, BlackBerry PlayBook, BlackBerry 7 OS — as it works to compete against the iPhone and Android handsets, to no avail. Still, says Reuters, “RIM’s board wants co-chief executives Mike Lazaridis and Jim Balsillie to focus on trying to turn around the business through the launch of new phones, better use of assets such as BlackBerry Messaging and restructuring, two sources said.”
Lazaridis and Balsillie have resisted at least one request from an investor that requested the pair discontinue sharing the CEO position, a move Balsillie has said would be as meaningless as reprinting their business cards (CP: BlackBerry fallout: Does RIM really have a plan?).
Shareholder Jaguar Financial Corp has called for a sale of RIM, as a whole or parts, according to the report, and sources said there’s talk of RIM needing a “deeper bench” of executives and being distracted by listening to too many ideas from “investment bankers, strategic parties and private equity firms.”
Is the board really so sure Lazaridis and Balsillie can (for real this time!) turn things around, or are they nervous about the price it would fetch?
A Wall Street technology investment banking head told Reuters: “It is hard to find a value that makes sense with a falling knife.”