BlackBerry to sell off 3M square feet of space in Canada

BlackBerry headquarters in Waterloo, Ontario.

BlackBerry headquarters in Waterloo, Ontario.

(Credit rating: BlackBerry)

BlackBerry’s mission for money has actually been bolstered by a property sale.

The embattled mobile phone maker announced on Friday that it has agreed to market over 3 million square feet of room, as well as uninhabited land, throughout its home country of Canada. BlackBerry will certainly rent back some of the space, however really did not state exactly how a lot. The firm also declined to share the amount of cash it’ll net in the sale.

The real property sale is simply the most up to date step by CEO John Chen to aid BlackBerry elevate money and lower its expenditures. The Waterloo, Ontario-based firm has enjoyed its sales plummet over the last number of years, and in 2012 participated in an offer to raise $1 billion via convertible financial obligation with equity firm Fairfax Financial. In January, Fairfax revealed strategies to spend one more $250 million in BlackBerry.

BlackBerry really did not claim on Friday exactly what rooms were marketed, however Chen looked for to guarantee Canadians that it will “remain to take into consideration Waterloo the home of our international head office.”

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