BlackBerry sells its German-based R&D assets

Jul 03, 2014

BlackBerry is selling its research and development department in Germany to Volkswagen Infotainment, a subsidiary of the automaker that makes interactive technology for vehicle dashboards.

The companies said Thursday that the deal will shift about 200 BlackBerry employees in Bochum, Germany, to Volkswagen. The terms of the were not disclosed.

The move comes as the Ontario-based company looks to become profitable by its 2016 financial year.

BlackBerry has centralized most of its vehicle connectivity development at its QNX Software Systems division in Ottawa, Ontario.

Volkswagen will assume BlackBerry's offices leases at the Bochum University Center and the Design Support Lab.

BlackBerry Ltd., formerly known as Research In Motion, was once Canada's most valuable company with an $83 billion in June 2008, but the stock has plummeted since.

Explore further: BlackBerry ending US licensing deal with T-Mobile (Update)

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COCO
not rated yet Jul 07, 2014
too bad but c'est la vie