BlackBerry Looks to Buy Back 12 Million Shares Over Next Year

BlackBerry says it is looking to buy back up to 12 million shares over the next year.

Based on current prices, that’s an expense of about $130 million for the company.

The buyback program is expected to begin today and spread over a 12-month period.

12 million shares represents 2.5% of the company’s public float.

BlackBerry is currently transitioning from a smartphone-first company to a software-first one.