RIM rebuffed by court on Certicom offer: Mobile device maker founders on takeover

The effort by Research In Motion Ltd. to purchase encryption firm Certicom Corp. was dealt another setback as a Canadian court yesterday “enjoined,” or blocked the deal.
RIM said it was reviewing the court order by the Ontario Superior Court of Justice and was disappointed that Certicom’s directors had taken legal action to block its offer to buy the company. The court order also blocked RIM for further bidding on Certicom, which the rebuffed suitor said would deny Certicom shareholders full value for their holdings.
RIM offered about $52.6 million for the company late last year. But Certicom sought an injunction against that offer, charging that RIM unfairly used confidential information to make its bid.
RIM denied that allegation.
Certicom is based in Mississauga, Ontario, and is known for its elliptic curve cryptography (ECC). BlackBerry maker RIM is based in Waterloo, Ontario, and would use Certicom’s encryption to bolster its own security offerings.