Report: Samsung wants to buy BlackBerry for $7.5 billion [Update]

Samsung, who have seen their troubles mount of late, are reportedly in talks to buy blackBerry, who have a storied history of their own. The deal is worth up to $7.5 billion, and will give Samsung access to BlackBerry's patent portfolio. Sources are indicating BlackBerry's impressive patent portfolio is what Samsung is seeking, not necessarily a wholesale buyout and operational takeover. The buyout is reportedly on the table for $13.35 to $15.49 per share, or 38-60% over what BlackBerry currently trades at.

According to Reuters, Samsung is offering $6 billion to $7 billion, with a $1.25 in convertible debt.

Executives from Samsung and BlackBerry reportedly met with advisors last week to discuss the deal. Though the report doesn't say as much, the meeting may have taken place as CES, where both had top-level execs milling about.

Samsung competes with BlackBerry for enterprise security, where KNOX takes dead aim at BlackBerry's main attraction. Access to the patents BlackBerry holds could make Samsung's devices much more secure.

The deal may have also come about as a means to thwart off another major lawsuit, if Samsung were to have stepped on any BlackBerry patents unwittingly.

We still wonder why the deal is being entertained, if it is. Samsung has seen a sharp decline of late, and BlackBerry is on a bit of a rebound.

Blackberry was once all but sold off before an 11th hour break-up, so we won't count this one as done until there's an official announcement. It's also not the first time we've heard BlackBerry was on the block. For now, let's just hope TouchWiz doesn't end up on the BlackBerry Classic.

Update: BlackBerry has issued an official response to the alleged Samsung takeover:

BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) ("BlackBerry") is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry's policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.

Source: Reuters