Certicom Accepts Research In Motion Acquisition Offer
Security software firm, Certicom, has agreed to be acquired by Research In Motion for C$3 per share, twice as much as the BlackBerry maker offered in a hostile takeover bid last December.
Having been thwarted in its first attempt, RIM raised its bid to $3/share to definitively trump a $2.10/share offer from VeriSign.
“The Board of Directors of Certicom has concluded that the RIM transaction is in the best interests of the corporation,” said Certicom chairman, Jeffrey Chisholm, after VeriSign confirmed it would not try to match RIM’s bid.
Certicom, whose technology is used by the U.S. government for secure communications, retains the option to back out of the deal, subject to a $4-million termination fee.
News z: Jeremy