As soon as Prem Watsa stepped down from Blackberry's board in August, speculation that he would launch a bid for the troubled smartphone maker started to swirl.
Six weeks later, the man some call Canada's Warren Buffett has delivered, beginning a rescue project he once said could take four or five years.
Just over a year ago, Watsa said BlackBerry was a "Canadian success story," a good buy and a likely turnaround story even though its market share was tumbling.
BlackBerry's fortunes have only deteriorated since then, with the latest blow coming on Friday, when Blackberry said it would cut more than a third of its workforce as it retreats from the consumer market in favor of its traditional strength serving businesses and governments.
But Watsa, chief executive of Fairfax Financial Holding Ltd, which is the top BlackBerry shareholder, is an old hand at looking wrong today and right tomorrow.
On Monday, BlackBerry said it agreed to be acquired by a consortium led by Fairfax for $4.7 billion, a move observers said could allow the company to put its house back in order out of the public eye.
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