Reports swirling that Blackberry Ltd. is fielding early offers for a takeover marks a significant milestone in the history of Canada’s tech sector, according to one analyst. 

Late last week, reports emerged that Veritas Capital and other players are considering a takeover of the beleaguered former tech giant. Blackberry had previously announced it would undergo a strategic review of its operations, which included the possible sale of portions of its business. 

Carmi Levy, technology analyst at Step Software, said in an interview with Bnn Bloomberg Monday that a potential BlackBerry sale marks the “end of an era” for Canadian tech.

“You kind of knew that it was coming here, but I don’t think anyone really wanted to get to that point, because this really was a Canadian icon,” he said in a television interview. “This really does mark the end of a very significant chapter in Canadian tech history, if it, in fact, does happen.” 

Levy said hopes for a turnover at BlackBerry were high when John Chen took over as CEO in 2013, but the company has failed to grasp significant market share since pivoting away from smartphones and into cybersecurity and automotive tech, among others. 

“They’ve got good offerings, but they’re not great,” he said. “They don’t stand out, they’re not top of mind and you mention the BlackBerry brand.” 

BlackBerry’s stock jumped nearly 20 per cent following news of Veritas’ interest as investors hope the firm pays a premium for the takeover, but Levy isn’t convinced it might go the way investors hope.

“Don’t hold your breath,” he said.

“I wouldn’t expect a major windfall, maybe a small premium, just to get the value out of it and then move on, but ultimately this is not a major play.”

With files from Bloomberg News