http://www.digitalone.com.sg/news/article/26893
BlackBerry was once a leader in mobile tech but has been squeezed by rivals Android and Apple. Their global market share had slipped to 3.7 per cent in the second quarter, the lowest since tracking began.
Fairfax, a Canadian firm headed by billionaire Prem Watsa, is already BlackBerry's largest shareholder with approximately 10 per cent of its shares.
Watsa resigned from BlackBerry's board in August when it announced a search for a suitor.
Watsa said the sale "will open an exciting new private chapter for BlackBerry, its customers, carriers and employees."
"We can deliver immediate value to shareholders while we continue the execution of a long-term strategy in a private company."
The announcement came on the same day that Apple said it sold a record nine million iPhones in three days after launching two new versions of its smartphone last week.
Its shares bounced back in afternoon trading to close at US$9.08 but remain far below the stock's historical high.
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