AOH :: IS1446.HTM

BlackBerry Maker Offers $53 Million For Certicom




BlackBerry Maker Offers $53 Million For Certicom
BlackBerry Maker Offers $53 Million For Certicom



http://www.informationweek.com/news/personal_tech/blackberry/showArticle.jhtml?articleID=212201747 

By Marin Perez
InformationWeek
December 3, 2008

In a move to bolster its security, Research In Motion said Wednesday it 
plans to make an unsolicited takeover bid for data encryption specialist 
Certicom.

The BlackBerry maker said it will make an offer to acquire all of the 
issued and outstanding shares of Certicom for $1.21 per share, a premium 
of roughly 76% over the current share price. The bid values Certicom at 
over $53 million, and RIM said it would be funded by cash on hand.

RIM said Certicom would be a "natural fit" for the smartphone maker 
because Certicom is a worldwide leader in device security with Elliptic 
Curve Cryptography (ECC), which is used for the majority of BlackBerry 
security operations. RIM currently licenses Certicom's technology, and 
the BlackBerry maker has been in acquisition negotiations with the 
company since February 2007.

"As we are unable to engage Certicom management in a meaningful dialogue 
to advance the terms of a potential transaction, we believe it is in the 
best interests of our respective shareholders, employees and customers 
to make this attractive offer directly to Certicom shareholders now," 
said RIM co-CEO Jim Balsillie, in a statement.

The takeover bid will be acceptable 35 calendar days from the official 
offer, which will take place Dec. 12.

[...]


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