RIM’s hostile bid sees pushback as Certicom seeks to stop acquisition
December 22 2008 - 12:44 pm ET | Phil Carson |
Research In Motion Ltd. said today it will fight for its takeover bid for Certicom Corp., an encryption firm, after the latter sought a court injunction to thwart RIM’s purchase.
Certicom said it would weigh RIM’s bid —RIM is offering Certicom shareholders $1.20 per outstanding share, which translates to $52.6 million for the company — but also evaluate competing bids.
RIM said Certicom’s basis for an injunction — that the BlackBerry maker unfairly used confidential information to make its bid — was untrue and it would fight the allegations.
RIM, based in Waterloo, Ontario, would bolster its security offerings by integrating Certicom’s encryption technology into its servers and devices. Certicom is based in Mississauga, Ontario, and is known for elliptic curve cryptography (ECC).
RIM just reported modest earnings for fiscal third-quarter 2009, but said its current quarter should set a company record for device volumes.
December 29, 2008 06:24 am
Hey guys they actually do mean FY2009. We have to remember the difference between Fiscal Year & Calendar Year. My company is in our 3rd quarter of FY09 (our FY09 began June 1st, 2008). I looked online and RIM's FY09 runs from March 2nd, 2008 until March 1st, 2009. Just wanted to assist with the confusion.
December 22, 2008 10:57 pm
Actually, AT&T's Blackberry Bold and the Storm have both been doing well. The BOLD is superior with a faster processor and WIFI, not to mention true keys which are easier to type on as well. RIM should be holding their head up high by the end of the year!
December 22, 2008 12:53 pm
Their rise in volume is attributed to Verizon Wireless and the Storm. They are selling tons of all Blackberry models.
December 22, 2008 12:53 pm
It's a typo. Maybe the article was typed on one of those teeny weeny keyboards :)
December 22, 2008 12:53 pm
Ahmad, I believe you mean third-quarter 08 not 09. I expect the sales of the new Nextel Blackberry 8350i to be responsible for the high volumes they expect for the end of the fourth quarter 08. I predict first quarter 09 to be even better as more people upgrade their outdated 7100i. Time to buy RIM stock was yesterday. Jeffro
December 22, 2008 12:53 pm
RIM just reported modest earnings for fiscal third-quarter 2009, but said its current quarter should set a company record for device volumes. I guess, you mean third-quarter 2008 or is this a prediction for 2009?