BlackBerry agrees to $4.7 billion buyout

This July 5, 2010 file photo shows a view of the Research in Motion Facility in Waterloo, Ontario. Struggling Canadian smartphone maker BlackBerry has agreed to a buyout by a consortium of investors, for $4.7 billion. (AFP/File)

OTTAWA (AFP) – Struggling Canadian smartphone maker BlackBerry said Monday it has agreed to a buyout by a consortium of investors, for $4.7 billion.

The company said it has "signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence."