RIM Withdraws Certicom Takeover

The take over bid for software encryption company Certicom has been going on for a while.  It is finally over with Certicom being the victors.  Certicom filed an injuction earlier this week and was granted by the court and RIM finally withdrew.  RIM’s $66 million CAD bid for the company is now history.  Here is a statement from RIM about the ordeal:

Monday’s Ontario Superior Court order granting Certicom’s request for an injunction meant the conditions of the offer made in December could no longer be met, RIM said in a statement.

All this hiring and buying going on with RIM is all part of their expansion plan.  Failing to acquire Certicom may have hindered their initial plan, however I know RIM will find another way.

via BlackBerry Cool