http://www.informationweek.com/news/personal_tech/blackberry/showArticle.jhtml?articleID=212201747 By Marin Perez InformationWeek December 3, 2008 In a move to bolster its security, Research In Motion said Wednesday it plans to make an unsolicited takeover bid for data encryption specialist Certicom. The BlackBerry maker said it will make an offer to acquire all of the issued and outstanding shares of Certicom for $1.21 per share, a premium of roughly 76% over the current share price. The bid values Certicom at over $53 million, and RIM said it would be funded by cash on hand. RIM said Certicom would be a "natural fit" for the smartphone maker because Certicom is a worldwide leader in device security with Elliptic Curve Cryptography (ECC), which is used for the majority of BlackBerry security operations. RIM currently licenses Certicom's technology, and the BlackBerry maker has been in acquisition negotiations with the company since February 2007. "As we are unable to engage Certicom management in a meaningful dialogue to advance the terms of a potential transaction, we believe it is in the best interests of our respective shareholders, employees and customers to make this attractive offer directly to Certicom shareholders now," said RIM co-CEO Jim Balsillie, in a statement. The takeover bid will be acceptable 35 calendar days from the official offer, which will take place Dec. 12. [...] _______________________________________________ Help InfoSecNews.org with a donation! http://www.infosecnews.org/donate.htmlReceived on Thu Dec 04 2008 - 01:35:54 PST
This archive was generated by hypermail 2.2.0 : Thu Dec 04 2008 - 01:40:29 PST