Certicom to be acquired by Research in Motion

Certicom to be acquired by Research in Motion

Digital encryption technology company Certicom has announced that they have accepted to be acquired by smartphone manufacturer Research in Motion.

The deal is worth around 131 million Canadian dollars at 3 Canadian dollars a share in a cash transaction.

RIM had originally offered CA$1.50 per share for Certicom but VeriSign entered the scene with a competing bid.

Certicom said that VeriSign has declined to match this offer and they are going with RIM for the acquisition deal.

Certicom has to pay a CA$4 million break-up fee to VeriSign for their deal with RIM.

This acquisition would require approval from the regulatory bodies and shareholders in the company.

Checkout: Certicom