BlackBerry agrees to acquisition

BlackBerry has agreed to be acquired by Toronto-based Fairfax Financial Holdings Ltd. for $4.7 billion.

The announcement came Sept. 23 as the smartphone company signed a letter of intent with Fairfax, which owns about 10 percent of BlackBerry's common shares, according to the Washington Post.
 
The company currently holds just 3 percent of the worldwide smartphone market. The deal will take the company private and pay about $9 a share to shareholders.

Read more from the Washington Post.