Close
  • Latest News
  • Cybersecurity
  • Big Data and Analytics
  • Cloud
  • Mobile
  • Networking
  • Storage
  • Applications
  • IT Management
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Menu
eWEEK.com
Search
eWEEK.com
  • Latest News
  • Cybersecurity
  • Big Data and Analytics
  • Cloud
  • Mobile
  • Networking
  • Storage
  • Applications
  • IT Management
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Cybersecurity
    • Cybersecurity
    • IT Management
    • Mobile
    • Networking

    BlackBerry Maker RIM Drops Certicom Quest

    By
    ROY MARK
    -
    January 21, 2009
    Share
    Facebook
    Twitter
    Linkedin

      BlackBerry maker Research In Motion said Jan. 20 it is withdrawing its $53 million hostile takeover bid for Certicom after an Ontario Superior Court granted Certicom’s request for a permanent injunction blocking the deal. The Certicom board opposes the RIM bid as undervaluing the company that develops the elliptic curve cryptography technology coveted by RIM.

      The court decision left RIM little choice but to abandon the hostile takeover it launched on Dec. 10, 2008. A Jan. 20 Certicom statement said if RIM wants to organize another bid, it must do so with Certicom’s permission and in compliance with its nondisclosure agreements with the company.

      Certicom claims that a nondisclosure deal between RIM and Certicom allowed RIM access to significant inside information and a timing advantage over other interested bidders. Certicom also contends that RIM has not disclosed to Certicom shareholders that it has had the benefit of evaluating Certicom’s confidential information and used that information in making its offer.

      “RIM’s hostile bid undervalues both Certicom’s valuable and unique industry-leading data encryption technology and the recent progress the company has made in implementing its strategic plan,” Certicom said in a Jan. 5 letter to stockholders. “RIM is attempting to acquire almost $2 in cash and potential tax benefits for $1.50, and would not be paying fair value for the valuable assets and operations of your company.”

      The letter added, “The board of directors is convinced that continuing to hold Certicom shares provides better potential shareholder value and is far preferable to accepting RIM’s undervalued offer.”

      After Certicom initially rebuffed RIM’s offer, the company extended its bid to shareholders from Jan. 15 to Jan. 27. RIM insisted that its offer to acquire Certicom was a fair deal.

      “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,” RIM co-CEO Jim Balsillie said in a Jan. 5 statement.

      Certicom manages and secures the value of content, applications and devices with government-approved security. Adopted by the NSA (National Security Agency) for government communications, elliptic curve cryptography provides the most security per bit of any known public-key scheme.

      MOST POPULAR ARTICLES

      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      CHRIS PREIMESBERGER - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      Cloud

      Why Data Security Will Face Even Harsher...

      CHRIS PREIMESBERGER - December 1, 2020 0
      Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
      Read more
      Cybersecurity

      How Veritas Is Shining a Light Into...

      EWEEK EDITORS - September 25, 2020 0
      Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
      Read more
      Big Data and Analytics

      How NVIDIA A100 Station Brings Data Center...

      ZEUS KERRAVALA - November 18, 2020 0
      There’s little debate that graphics processor unit manufacturer NVIDIA is the de facto standard when it comes to providing silicon to power machine learning...
      Read more
      Apple

      Why iPhone 12 Pro Makes Sense for...

      WAYNE RASH - November 26, 2020 0
      If you’ve been watching the Apple commercials for the past three weeks, you already know what the company thinks will happen if you buy...
      Read more
      eWeek


      Contact Us | About | Sitemap

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Property of TechnologyAdvice.
      Terms of Service | Privacy Notice | Advertise | California - Do Not Sell My Info

      © 2020 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×