Tag: certicom

Certicom seeks rival offers to RIM’s hostile takeover bid (BlackBerry Bytes)

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On Wednesday we told you that RIM had made a $66 million offer to Certicom’s shareholders in an attempt to purchase the encryption software company. The offer had been made directly to shareholders due to stalled negotiations with Certicom management.

Today, we can tell you that Certicom has refused a request by RIM for exclusive buyout talks, and is now inviting offers from other interested parties. Certicom says it has been in talks with other companies about a possible deal but mentioned none specifically. The company has formed a special committee of its board and hired TD Securities Inc. as a financial adviser to consider RIM’s proposal and seek other bids.

RIM is offering no new statements on the matter beyond what was made Wednesday, so we’ll just have to wait and see how it plays out.

RIM offers $65.6 million to buy Certicom (BlackBerry Bytes)

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RIM announced plans today to offer CDN $1.50 a share in cash to buy encryption software company Certicom Corp in a deal worth about CDN $66 million. The offer represents a 76.5% premium over the December 2nd closing price of Certicom stock.

RIM said it is making the offer directly to Certicom shareholders because it has been unable to advance the transaction with management since starting talks in February 2007. The offer is not subject to financing conditions and will be funded by cash on hand, said RIM. It expects to formally commence the offer by Dec 12.

RIM’s offer comes only a day after the Waterloo company cut their Q3 revenue outlook in the face of slowing subscriber growth.

|via Reuters|




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