VeriSign will not match RIM’s offer for Certicom

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RIM logoIt appears as though RIM’s persistence has paid off. Little more than a week after RIM doubled their offer for Certicom, the security software maker has received a notice from its other main suitor VeriSign that it will make no attempt to match RIM’s offer.

Certicom’s board of directors will be meeting today, and are expected to approve RIM’s C$131 million bid. For their troubles, VeriSign will receive a C$4 million termination fee if RIM’s takeover goes through. I’m still interested in learning if VeriSign ever seriously thought they would obtain Certicom, or saw the whole situation as a potential cash grab. Let’s hope there’s not another OSC investigation.

|via Reuters|

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