Why did Citadel buy BlackBerry?

1. 2 BIG REASONS CITADEL
COULD HAVE MADE THE
MOVE IT DID
Why Buy BlackBerry Ltd?

2. Emerging Markets
The company is
shifting its focus
away from the
United States
smart phones,
and looking
towards lower-
priced entry
points in
emerging
markets.

3. Emerging Markets
 BlackBerry just came out with it’s new Z3 phone in
Indonesia, a country which was once referred to as
“BlackBerry Nation”
 At $190, the price point is much more affordable
than its Z10, which ran nearly $750.
 The performance of the Z3 abroad will be viewed as a
bellwether for new CEO John Chen

4. Niche Markets That
Need Security
BlackBerry’s
greatest strength
is its status as
the premier
provider of
secure
communications.

5. Niche Security Markets
 BlackBerry became the first company to receive Full
Operational Capability rating to run on the
Department of Defense and the U.S. Defense
Information Systems Agency networks.
 The company also make a recent investment in
NantHealth, which could signal a move into secured
communications for health care service providers.

6. But Let’s Keep This In Perspective
 BlackBerry could end up shifting its focus
successfully into emerging and secure network
niches, but the opportunity could also attract
competition.
 That’s probably why, even though it’s a $23 million
stake, Citadel’s investment in the company accounts
for only 0.03% of all of its investments

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