For the past two years or so, BlackBerry (NASDAQ: BBRY ) has been caught in a cash-burning spiral trying to hold on to anything it can for dear life in the North American market. The Canadian based firm formerly known as Research in Motion, BlackBerry, has been searching for a buyer after dismal execution in delivery of products and services in recent years.
Last week, we watched to see if BlackBerry (NASDAQ: BBRY ) would circle the wagons and survive the swirling acquisition vultures overhead (“So What is Really Happening With BlackBerry”). This morning, there is positive news that BlackBerry is doing just that. Prior to the market opening, the BlackBerry Board decided to forego an outright buyout bid by Fairfax but raised $1 billion from them to stay alive.