RIM Wants To Buy Encryption Software Firm Certicom For $52.5 Million
BlackBerry-maker Research In Motion said it plans to make an offer to acquire Certicom, an encryption software firm, for $52.5 million. The move comes the day after the company lowered its profit and revenue outlook for the third quarter. While RIM accurately points out the offer represents a 76.5 percent premium over Certicom’s closing price on Tuesday, stocks opened today right at $1.50 – the per-share price being offered by RIM (NSDQ: RIMM). RIM said it’s taking the offer directly to shareholders because talks with Certicom management have stalled since they began in February 2007. RIM plans to formally make the offer by Dec. 12 and intends to pay with cash on hand. Release.
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, RIM, certicom
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