$425 Million Fire Sale To BlackBerry by After Good Technology
An offer that could stoke debate about who will win and who will lose when a high flying company is acquired for a less value that is perceived.
An open letter by former colleagues has been published recently. Ken Singer the cofounder of AppCentral that was acquired by Good Technology in 2012 — says that he is taking all the money he has, shall we say as shareholder that he earned from Good Technology’s fire.
He is now investing back to AppCentral who have lost its payday and hoped for a recovery.
In the published letter, Singer discusses “moral dilemma” in accepting payout. In a recent conversation with VentureBeat, Singer said that it would be so “immoral” for him to take of money that his former employees at AppCentral paid in.
Looking back, BlackBerry bought mobile security rival Good Technology worth $425 million back in September. The said acquisition surprised the market, given that two companies had been at its loggerheads in the past, but the cold light day deal made a great deal given their respective offerings in securing mobility sphere.