1. CrackBerry News's Avatar
    BlackBerry has completed the acquisition of Good Technology for $425 million. The company has purchased the mobile security provider to further enhance its offerings to enterprise customers.

    Full story from the Crackberry Blog...
    11-02-15 07:40 AM
  2. early2bed's Avatar
    An interesting article describing what happened to employees of Good who owned common shares vs the preferred shares of venture capitalists.

    http://www.nytimes.com/2015/12/27/te...-stories-below

    When a Unicorn Start-Up Stumbles, Its Employees Get Hurt
    By KATIE BENNERDEC. 23, 2015

    On Sept. 4, employees of Good Technology, a mobile security start-up in Sunnyvale, Calif., awoke to discover that their company was being sold to BlackBerry, the mobile device and software maker.

    Some workers immediately began trying to figure out what it meant for Good to abandon its long-anticipated plan to go public a move that would have potentially turned their shares in the start-up into gold. They didnt get firm answers that day, but the prospects did not look great.

    Around 9 a.m., hundreds of employees filed into a conference room or started up videoconference software to watch Goods chief executive, Christy Wyatt, discuss the sale. Ms. Wyatt introduced BlackBerrys chief, John S. Chen, who winkingly apologized for how his deal makers had driven Goods final sale price down to $425 million, less than half of the companys $1.1 billion private valuation.

    Theyre very polite when theyre beating you over the head, Ms. Wyatt joked in response.

    Just how punishing that price was became clear in late September. In an investor document about the sale that was distributed to shareholders, employees discovered their Good stock was valued at 44 cents a share, down from $4.32 a year earlier. In contrast, preferred stock owned by Goods venture capitalists was worth almost seven times as much, more than $3 a share. The paperwork also showed that Goods board had turned down an $825 million cash offer just six months earlier, in March.

    CONTINUED
    12-23-15 05:58 PM
  3. app_Developer's Avatar
    Smart recruiters are probably raiding Good for disgruntled talent. But hopefully BB is being smart and giving their most talented Good engineers good retention packages to make up for what they lost in the acquisition.
    12-23-15 06:10 PM
  4. Chuck Finley69's Avatar
    An interesting article describing what happened to employees of Good who owned common shares vs the preferred shares of venture capitalists.

    http://www.nytimes.com/2015/12/27/te...-stories-below
    The lesson here is similar to what almost happened to BlackBerry when it almost went bankrupt. Nobody even made an offer for BlackBerry at time.

    Posted via CB10
    12-23-15 06:12 PM
  5. early2bed's Avatar
    Smart recruiters are probably raiding Good for disgruntled talent. But hopefully BB is being smart and giving their most talented Good engineers good retention packages to make up for what they lost in the acquisition.
    Do you know what would be kind of messed up about that? BlackBerry's negotiations cut out the common shareholders. They can use some of that savings to make up for some of the Good employees losses. The only people left out are the common shareholders who are not employees. I guess it's good to remember that not all shareholders are equal. Common investors are generally the last to get paid.
    12-23-15 08:49 PM

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