BlackBerry said it has signed a letter of intent with a group led by Fairfax Financial Holdings, the smartphone maker's largest shareholder, to be taken over.
The deal is worth $9 a share to BlackBerry shareholders, valuing the company at around $4.7 billion (£2.9 billion).
The struggling firm said in a short statement that the consortium has six weeks to "conduct due diligence," during which BlackBerry can shop for other offers.
BlackBerry shares climbed 3.2% to $9.00 shortly after trading restarted.
More top news
A similar split set up to today
The Eagles of Death Metal want to be the first to play the Bataclan when it reopens, the lead singer has said in an emotional interview.
Cheap commercial spaceflight took one giant leap closer to reality after Blue Origin successfully landed a rocket - upright - in Texas.