Management
Technology
- Applications
- Business Intelligence
- Development
- Hardware
- Mobile & Wireless
- Networking
- Internet
- Operating Systems
- Security Products
- Servers & Datacentre
- Storage
Toolbox
Training
Books
White Papers
Webcast
Resource Centre
March 20, 2009
Certicom shareholders approve £74m buyout by RIM
RIM’s increased offer pleases stockholders
By Stephen Lawson
Research In Motion is set to buy Certicom for about C$132 million (£74 million) after the mobile security company's shareholders approved RIM's second, much higher offer.
Advert
The BlackBerry maker bid C$1.50 per share for Certicom in a hostile takeover attempt in early December. RIM said the two Canadian companies had talked about a buyout but hadn't been able to have a "meaningful dialogue," so it took the offer directly to the company's shareholders.
Certicom said the bid was too low and asked its shareholders to reject it. The company also asked the Ontario Superior Court of Justice to block the offer, saying RIM had breached nondisclosure agreements in preparing it. The court agreed with Certicom.
Subsequently, Certicom accepted a C$1.67 buyout offer from VeriSign in January. But on 3 February, RIM increased its bid to C$3 per share in cash. Certicom paid a C$4 million termination fee to VeriSign and accepted the new offer.
Certicom specialises in elliptic curve encryption software, which RIM already uses in its BlackBerry system. Owning the company could save RIM money or help it integrate the technology more deeply in its products and drive future development, analysts have said.
The elliptic curve technology meets the standards of the US National Security Agency, which could help RIM sell BlackBerry devices in some government accounts.
Follow highlights from ComputerworldUK on Twitter
Follow highlights from ComputerworldUK on Twitter
Sign up for our Daily Newsletter
The UK IT News widget Get it for your site!
« prev article | more mobile & wireless news | next article »
Advert
Email this article to a friend or colleague:
PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.
- This article is now being printed.
What are your views on this subject? Use the form below to post a comment on this article up to 1000 characters.
Click below to add 'Certicom shareholders approve £74m buyout by RIM - Personal Technology - ComputerworldUK' to your blog.
If you do not have a ComputerworldUK Account and would like to use this feature, please Register.
If you are a registered, logged-in user, this will post the title and first paragraph of this story to your blog to share with your readers.
Advert
Newsletters
Our Daily & Weekly Newsletters highlight breaking news, vital issues, expert analysis and solutions to help you stay ahead of developments in the industry.
WHITE PAPERS
-
Legal risks: Employee use of the internet and email
Exploring the challenges facing IT Mangers today and vital steps to ensure safe internet an email use by employees. -
Phishing for victims
This White Paper examines the phenomenon of phishing. It explains the potentially catastrophic threat it presents to all kinds of organisation. Exploding some widespread myths, it lights up the murky waters where phishing first emerged and where it continues to evolve. But it also highlights what your business can do to blunt the threat.
