BlackBerry has decided not to sell itself and is instead raising $1 billion and replacing CEO Thorsten Heins with John S. Chen, the previous CEO of SAP company Sybase.

BlackBerry, which had until Nov. 4 to agree to an acquisition by Fairfax Financial Holdings for $4.7 billion, is instead seeking to raise about $1 billion by selling convertible notes to a group of investors including Fairfax, according to a press release from the company. The transaction is expected to be completed within the next two weeks.

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