Research In Motion Limited To Acquire Chalk Media For C$23.1 million
Research In Motion Limited (NASDAQ:RIMM) the company behind the BlackBerry has announced the acquisition of Vancouever-based mobile application company Chalk Media. Chalk has created applications that distribute video, audio, and multimedia presentations made for BlackBerry devices.
RIM will pay $23.1 million Canadian dollars (currently valued at around $18.60 million U.S.) in cash. RIM will also provide Chalk with $2.2 million Canadian dollars ($1.8 million U.S.) in working capital until the deal is finalized. The deal is expected to close in February.
This is the second acquisition offer made by RIM this week. RIM has also made a hostile bid on Certicom, a wireless security system that is best known for their Elliptic Curve Cryptography services. Certicom would provide RIM’s clients with sophisticated information security technology.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry