Research in Motion (RIM) is withdrawing its CAD66m (USD52m) hostile takeover bid for Canadian data security firm Certicom, saying the conditions of its offer could no longer be satisfied due to an injunction by the Ontario Superior Court of Justice. The court found that RIM, a long-time Certicom licencee, had breached nondisclosure agreements by using confidential information provided by Certicom to help its bid. Certicom, which maintains a large portfolio of patents related to data encryption, hopes to secure an offer from a third party, with many analysts suggesting IBM could be a potential bidder.
StrategyEye's related categories: RFID Logistics Solutions, Mobile Phones & PDAs, Data Encryption, Internet Security
StrategyEye's related companies: Research In Motion, Certicom
