Smartphone maker BlackBerry has announced that it is "exploring strategic alternatives" for the company, which may include break-up, taking the company private or its sale to a rival, such as Microsoft.
"These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions," said the board in a statement.
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It follows a string of reports over the past week that the company was considering going private, but that it had struggled to find the private equity backers to fund such a deal.
However, following more than two years of market share declines, culminating in the late arrival of its latest BlackBerry 10 operating system, it has put together a Special Committee of the Board, comprised of Barbara Stymiest, Thorsten Heins, Richard Lynch and Bert Nordberg. It will be chaired by Timothy Dattels.
"We continue to see compelling long-term opportunities for BlackBerry 10," said CEO Heins. "We have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition.
"As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10 [BlackBerry's enterprise mobility management software], as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network."
The statement concluded: "There can be no assurance that this exploration process will result in any transaction. The Company does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives."
