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December 11, 2008

RIM to Acquire Chalk Media

Posted in: News

BlackBerry Cool has been big fans of Vancouver based Chalk Media since we first met them at WES in 2007. Their Mobile Chalkboard application, which allows companies to quickly and easily push rich media to employees (called “pushcasts”) was also quite popular during this year’s Best of WES People’s Choice competition.

It seems as though RIM was also impressed, as today the two companies have entered into an arrangement agreement for RIM to acquire Chalk in an all-cash transaction at a price per share of CDN $0.142 or CDN $23,125,000. Concurrently with the execution of the Arrangement Agreement, RIM has made a loan to Chalk in the amount of CDN $2.2 million, which will provide additional working capital to fund Chalk’s operations until the completion of the transaction.

Hopefully this acquisition will lead to some great push-media capabilities built into the next generation of BlackBerrys.

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