Why John Chen won't be overpaying for acquisitions anytime soon [Business News Network (BNN) Energy & Resources (Canada)]
BLACKBERRY LTD COMMON (BBRY)
US:NASDAQ Investor Relations:
us.blackberry.com/company/investors
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Source: Business News Network
Why John Chen won't be overpaying for acquisitions anytime soon Blackberry CEO John Chen says he is on the hunt for acquisitions to help the company expand its distribution channel, but he’s not interested in paying the current sky-high valuations for many tech companies. “I’m cheap, I don’t think that’s right for our shareholders,” Chen told BNN in an interview. “You are going to have to be extremely strategic for that to happen for us.” There has been growing speculation about potential acquisitions by the Waterloo-based company. Blackberry’s cash reserves now stand at US$2.6-billion. The company’s coffers have been bolstered by the recent US$814-million windfall it was awarded to end a dispute with Qualcomm Inc. over royalty payments. Chen says he wants to spend some of that cash to help Blackberry boost its market reach, but that doesn’t mean paying top dollar for takeover targets. “I am patient. We will build organically while we wait and when the valuation expectation starts get
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