BlackBerry has announced an agreement to sell the bulk of its Canadian real estate holdings, as the handset maker stockpiles cash to help its pivot toward emerging market consumers.
The company said in a blog post the deal includes 3 million square feet as well as “vacant lands,” and that it will lease back some of the property.
Canada has been BlackBerry’s base of operations since the company was founded in 1984,
“The successful sale of property in Canada will help us move toward our goal of continued operational efficiency,” said BlackBerry CEO John Chen in the blog post. “As previously stated, BlackBerry remains committed to having a strong presence in Canada and we continue to consider Waterloo home to our global headquarters.” Read more…