RIM, Nuance continue acquisition dance
Certicom, Zi shareholders get more time
December 31 2008 - 1:10 pm ET | Mike Dano | RCR Wireless News
In separate actions, both Research in Motion Ltd. and Nuance Communications Inc. extended their efforts to consummate anticipated acquisitions. For BlackBerry maker RIM, that means extending to Jan. 27 its $52.6 million offer to purchase encryption firm Certicom Corp., and for Nuance it means extending to Jan. 16 its $40 million offer to acquire Zi Corp.
RIM said the move would allow it time to deal with court and regulatory proceedings following Certicom’s efforts to thwart RIM’s acquisition attempt with a court injunction. Certicom said the BlackBerry maker unfairly used confidential information to make its bid.
As for Nuance, the firm said its extension was to get “past the holiday season to allow Zi shareholders additional time to consider the offer and tender their shares.” Interestingly, Zi and Nuance are also enmeshed in court proceedings, following Zi’s refusal to take Nuance up on the acquisition offer.
