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BlackBerry’s head office in Waterloo, Ont.
BlackBerry’s head office in Waterloo, Ont.
(MARK BLINCH/REUTERS)

BlackBerry valuation hinges on patents, services

The decline of BlackBerry Ltd.’s handset business makes it extraordinarily difficult to put a price tag on the company, but Prem Watsa appears confident that his group’s offer of $9 (U.S.) a share represents fair value for the smartphone maker.

Mr. Watsa, head of Fairfax Financial Holdings Ltd., used to serve on BlackBerry’s board, so his estimate of the company’s worth is based on an intimate knowledge of its balance sheet and prospects.