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RIM To Buy Mobile Software Firm Chalk Media For $17.2 Million

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Research in Motion (NSDQ: RIMM) will buy mobile software firm Chalk Media for $23.1 million Candian dollars ($17.2 million) in cash, the companies announced today. RIM has also agreed to lend the Vancouver-based company $2.2 million Canadian dollars ($1.8 million) to provide the 10 year old tech firm with working capital until the acquisition goes through. Chalk’s Mobile chalkboard, lets content, including video, be created and securely sent and tracked on Blackberry devices. RIM has offered 14.2 Canadian cents ($0.116) per share for the company, which last closed on the TSX Venture Exchange at 4.5 Canadian cents ($0.036). Chalk’s board of directors has unanimously approved the acquisition and has recommended that shareholders vote in favor of the transaction. The deal is expected to close in February. (release)

Dec 11, 2008 10:58 AM ET

Posted In: Entertainment, Money, M&A & Venture Capital, Mergers & Acquisitions, Social Media, Video, Companies, RIM, chalk media

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