Reports indicated that BlackBerry has informed its shareholders that a letter of intent to purchase has been signed, and that the $4.7 billion deal means shareholders will receive $9 for every share they own.
BlackBerry announced Friday that they were laying off 40 percent of their workforce, or around 4,500 people in an effort to reduce overall costs by 50 percent. The cuts are on top of the 5,000 jobs BlackBerry cut last year. The company's goal is to cut its global workforce to just 7,000 positions.
BlackBerry also recently revealed that it lost nearly $1 billion in the second quarter, which some speculate is likely a leading factor in their decision to sell.
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