Saturday, December 13, 2008

RIM Takeover Bid for Certicom

Research in Motion Limited (RIM) recent announcement of a takeover bid for Certicom Corp. is now open to the shareholders. Back on December 3, RIM offered shareholders 1.50 Canadian dollars ($1.20) per share, which accounts to CA$66 million ($52.6 million) for the outstanding shares of Certicom, which is based in Mississauga, Ontario makes encryption technology for wireless communications.

Certicom has said that they are also looking at a number of other competing bids, and not just from RIM. On the other hand, RIM, which is a Canadian wireless device company best known as the developer of the BlackBerry handheld communication device, has said that their offer for Certicom Corp. will only stay open until 5 p.m. EST on Jan. 15.

RIM is hoping to put their money in other areas, as their shares have fallen yet again. Shares recently fell to 85 cents, or 2.2 percent, to $38.36.

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