After months—years, really—of speculation about buyers and shutdowns and sales, BlackBerry appears to have found salvation in the form of a $4.7 billion takeover. Whether the company lives on from there or is sold for scraps remains anyone's guess.

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Under the proposed deal, which will close after due diligence and regulatory approvals, a group of buyers led by Fairfax Financial Holdings Limited will become BlackBerry's new dad.