RIM confirms Gist buyout for contact management tech
updated 07:35 pm EST, Mon February 14, 2011
Details of new integration remain unclear
Research In Motion has confirmed that it has finalized an acquisition of Gist, a startup that specializes in contact management. The startup suggests the buyout represents a significant step in the company's plan to expand its web-based utilities that focus on compiling data from business contacts. RIM also welcomed the move, citing Gist's expertise in management of contact information.
Former Microsoft executive TA McCann helped get Gist off the ground with $6 million in Series A funding, while additional funds were provided by Microsoft co-founder Paul Allen's investment firm.
Ahead of the December rumors of a buyout, the startup announced that it had compiled more than 100 million business profiles that could be accessed by customers. Content includes information such as e-mail addresses, status updates from social network, and other details regarding an individual's employment.
RIM has yet to announce specific plans for Gist's technology. The terms of the deal, including the dollar value of the buyout, remain unclear.
