VENTURE CAPITAL POST

BlackBerry co-founder Mike Lazaridis has officially dropped his plans to purchase the firm via a joint bid with a fellow co-founder as new management struggles to turn the troubled company around.

The deal that BlackBerry has made with Foxconn Group to outsource the making of its handsets is a sign that the smartphone company is evolving into a services firm, Bloomberg reported.

Jabil Circuit, whose customers include Apple and Cisco Systems, will put up for sale its aftermarket services for $275 million. The contract electronics maker also looks to part ways with BlackBerry as its revenue declines.

BlackBerry Ltd released a brief statement late Thursday that it has extended its deadline for debtholders who would like to purchase additional shares to January 13 next year.

BlackBerry Ltd is "very much alive, thank you," Interim Chief Executive John Chen affirmed in an open letter on Monday in which the smartphone maker committed itself to rebuilding as a niche player concentrating on the enterprise market.

BlackBerry rejected proposals to break-up and sell all or parts of the Canadian company.

The following bids, mergers, acquisitions and disposals were reported on Friday.

Investors such as Qatar Holding and Fairfax Financial have picked up sizeable amounts of BlackBerry's USD1 billion convertible debt offer.

BlackBerry's cash reserves may only last until 2014.

BlackBerry Interim CEO John Chen stressed his experience to be able to turn around the firm.

SAP CFO Werner Brandt squashed rumors of SAP's interest in BlackBerry through an interview with Euro am Sonntag.

The Canadian government, under the Investment Canada Act, has the right to review bids for Canadian flagship industries such as BlackBerry for national security issues.

According to sources familiar with the matter, any deal that Chinese computer maker Lenovo would push through with BlackBerry would cause regulatory hurdles.

BlackBerry Chief Marketing Officer said the firm had taken one page ads to communicate with its consumer base.

BlackBerry's co-founders had showed interest in acquiring the struggling smartphone manufacturer, said a report by The Economic Times.