After Research In Motion’s hostile takeover attempt of Certicom, a Canadian mobile encryption company, ended with a court granting a permanent injunction against the offering, another bidder came out of the woodwork and offered more than what the Blackberry-maker was willing to pay. VeriSign (NSDQ: VRSN) said it will pay about CDN $92 million ($73 million) to acquire all of the outstanding shares of Certicom. That beats the CDN $52 million that RIM (NSDQ: RIMM) offered to Certicom shareholders in its hostile takeover attempt. Certicom recommended against the offer to shareholders, saying the figure undervalues the company’s assets. Finally, Certicom fought off the bid in court, arguing that RIM breached non-disclosure agreements by using confidential and proprietary information supplied by Certicom to RIM for its bid. In the end, VeriSign said it will pay $40 million when you take out Certicom’s existing cash and short-term securities, which VeriSign says offers a 26 percent premium over the closing price of Certicom’s stock on Thursday, and about a 40 percent premium over RIM’s unsolicited takeover bid.

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VeriSign says the purchase will allow it to gain an upper hand in the area of “Elliptic Curve Cryptography,” a form of security, and Certicom hopes to leverage VeriSign’s presence in emerging markets. The deal is pending several regulatory approvals and a vote by Certicom shareholders. Release.