RIM has had its eyes on Mississauga based cryptology company Certicom for some time now. In December 2008 RIM filed its formal bid for the cryptology company offering $1.50 cash per share. However, RIM was not the only company bidding on Certicom, California based VeriSign Inc. worked out a friendly takeover of the company for $2.10 a share. Yesterday RIM made an offer of $3.00 a share, which Certicom has until February 12th to accept. Certicom’s shares closed at $3.20 yesterday, up 36.2%.
Certicom was founded in 1985 by three professors from the University of Waterloo. The company holds over 350 patents covering a variety of security, cryptology, and software optimization technologies. RIM began using Certicom technology in its Blackberry’s in 2000, and the two companies have been in merger discussions since 2007.