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  BlackBerryToday > News > Security Vendor Seeks to Fight Off RIM Overtures

Security Vendor Seeks to Fight Off RIM Overtures

By Judy Mottl
December 24, 2008

Cryptography software vendor Certicom wants no part of Research in Motion. Instead, it wants the courts to stop a hostile takeover by the BlackBerry maker.

In a complaint filed this week with the Ontario Superior Court of Justice, Mississauga, Ontario-based Certicom claims RIM is misleading shareholders about the acquisition opportunity. It also said its would-be buyer has breached non-disclosure agreements signed in the last two years between the two companies.

According to Certicom, RIM currently uses the 23-year-old company's Elliptic Curve Cryptography technology, which is also licensed to major tech firms, including IBM, General Dynamics, Motorola and Oracle.

The legal action is the latest news on RIM's $66 million bid, initiated in February 2007, to acquire the cryptography company. It presented a formal offer to Certicom shareholders on Dec. 8, offering $1.50 per share in cash -- a 76.5 percent premium over Certicom's closing stock price on Dec. 2.

At the time, RIM said its offer was fair and took into account growth prospects and synergies between the two partners.

Certicom, however, sees it differently.

See here for the rest of this article at InternetNews.com.



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  • Certicom VPN Secures Voq Smartphone for Enterprise

     
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