Tag: Wireless Industry NewsPage 4 of 10

RIM extends Certicom offer to January 27th


We wondered yesterday how RIM would respond to Certicom’s very public plea to shareholders to ignore the Waterloo company’s takeover bid. It seems as though we didn’t have to wait very long to receive our answer. RIM has announced that it will extend the expiry date of its offer to acquire all of the outstanding common shares of Certicom for CDN $1.50 in cash per share to January 27th, 2009. The previous deadline was January 15th, 2009. You can read the full release below.

Press Release

RIM logoResearch In Motion Limited announced today that a wholly-owned subsidiary of RIM will be extending the expiry date of its offer to acquire all of the outstanding common shares of Certicom Corp. for CDN $1.50 in cash per share from January 15, 2009 to 5:00 p.m. (Toronto time) on January 27, 2009. All other terms and conditions of the offer remain unchanged. The formal notice of extension will be mailed to Certicom’s shareholders next week. As previously disclosed, Certicom is bringing applications before the Ontario Superior Court of Justice and the Ontario Securities Commission to prevent RIM’s offer from proceeding. RIM is vigorously opposing such applications and will bring its own proceedings before the Ontario Securities Commission to cease trade Certicom’s shareholder rights plan. RIM is extending the offer so that the court and regulatory proceedings can be dealt with in an orderly time frame within the context of RIM’s offer.

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Certicom publishes ‘do not tender’ ad against RIM


It’s amazing that what started as a fairly innocuous attempt to purchase a security software firm has quickly devolved into a very public takeover battle between RIM and Certicom. In this round, Certicom has come out swinging, publishing a fairly large newspaper ad urging shareholders to ‘REJECT THE HOSTILE BID’ and not tender their shares at RIM’s $1.50/share offer.

Certicom claims that RIM’s offer fails to provide fair value for their IP, cash on hand and improving financial performance. In addition, Certicom states RIM has violated confidentiality agreements and has contacted the Ontario Securities Commission for a cease trade order. We’ll keep a close eye on the story to see how RIM responds.

|via MobileSyrup|

RIM sues Motorola for ‘unfair competition’ practices


RIM logoThis isn’t really the news anyone wants to hear during the Christmas season, but it appears as though Motorola needs a holiday lesson about the value of sharing. RIM filed suit with Motorola on Christmas Eve, alleging that the mobile phone company has improperly blocked their attempts to hire current and laid-off Motorola employees. The suit, filed in state court in Chicago on Tuesday, comes three months after Motorola alleged that RIM violated an agreement reached in February that the two companies would not solicit each other’s employees. RIM has asked for a court order to invalidate the agreement, saying in its complaint that the pact had expired in August and was no longer enforceable.

“RIM entities continue to grow and hire new employees within the United States and globally against a backdrop of recent public announcements by Motorola that it has and will continue to make massive layoffs,” said RIM’s lawsuit.

RIM is also seeking unspecified damages for what it called “unfair competition” practices by Motorola. Motorola spokeswoman Jennifer Weyrauch-Erickson declined to comment on the lawsuit.

|via Reuters|

Certicom opts for a cease trade order, RIM ‘disappointed’


CerticomThe RIM/Certicom takeover is starting to get messy. After urging their shareholders to take no action towards RIM’s hostile takeover of the encryption software company, Certicom intends to apply to the Ontario Superior Court of Justice and the Ontario Securities Commission for an injunction and cease trade order, respectively, preventing RIM from acquiring Certicom shares under RIM’s original offer of CDN $1.50 per share. Here’s what RIM had to say publicly in response:

While this course of conduct is consistent with Certicom’s past conduct in rebuffing RIM’s overtures to conclude a negotiated transaction with Certicom, RIM is disappointed that Certicom’s directors are again attempting to keep the decision as to whether to accept RIM’s offer out of Certicom shareholders’ hands.

RIM understands that the basis of the injunction and cease trade applications is Certicom’s allegation that RIM used confidential information contrary to the terms of agreements entered into between RIM and Certicom, and an alleged related failure by RIM to make proper disclosure in its offer to purchase and circular sent to Certicom’s shareholders. RIM intends to vigorously oppose Certicom’s allegations.

RIM also said they plan to bring an application to the Ontario Securities Commission to cease trade Certicom’s shareholder rights plan. Can’t RIM and Certicom just get into the holiday spirit and work things out?

|via Reuters|

LIVE BLOG: RIM Conference Call


Jim Balsillie

RIM’s fiscal Q3 2009 statement has been filed and the investor conference call is about to begin. Join in as we liveblog the hell out of it.

RIM conference call live blog!

Research In Motion Reports Third Quarter Results


Press Release

RIM logoResearch In Motion Limited (RIM) (NASDAQ: RIMM)(TSX: RIM), a world leader in the mobile communications market, today reported third quarter results for the three months ended November 29, 2008 (all figures in U.S. dollars and U.S. GAAP, except where noted). The third quarter results reported today by RIM are in line with the preliminary third quarter results reported by RIM on December 2, 2008.

Revenue for the third quarter of fiscal 2009 was $2.78 billion, up 7.9% from $2.58 billion in the previous quarter and up 66.3% from $1.67 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 81% for devices, 13% for service, 2% for software and 4% for other revenue. During the quarter, RIM shipped approximately 6.7 million devices.

Approximately 2.6 million net new BlackBerry subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base increased from the prior quarter by approximately 14% to approximately 21 million.

“We are pleased to report record revenue results for the third quarter and we have entered the fourth quarter with strong momentum despite the challenging general economic conditions. In fact we have enjoyed our best ever start to the holiday buying season over the past few weeks,” said Jim Balsillie, Co-CEO at RIM. “RIM launched an unprecedented number of BlackBerry smartphones in the third quarter and these new products are being adopted at an even faster pace than we expected. Our industry leading product portfolio is positioned well to capitalize on the increasing market opportunity in the fourth quarter of fiscal 2009 and beyond.”

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