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Canada would not stop RIM sale to outsiders

updated 07:30 pm EDT, Fri March 30, 2012

Government would let RIM change hands

The Canadian government wouldn't try to block a foreign acquisition of RIM, federal Finance Minister Jim Flaherty said Friday. While he would prefer that RIM thrive as a Canadian company, he wouldn't interject to make it that way. Those at RIM were "masters of their own destiny," he said.

The statements came after a dire fourth quarter result for RIM that saw it leave many options open, including licensing out BlackBerry OS and app content as well as higher level strategic decisions. He didn't confirm any rumors, although it's suspected that RIM at one point talked to Samsung about a partial or complete selloff.

RIM until recently was considered a highlight of the Canadian economy and proof that it could compete at the highest levels of technology worldwide. The Waterloo-based firm's slowness to accept the threats posed by the iPhone and Android, however, have seen much of its influence evaporate. It's currently in limbo as it waits to ship its first truly ground-up modern OS, BlackBerry 10, late in 2012. [via The Globe and Mail]



By Electronista Staff
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Comments

  1. The Vicar

    Junior Member

    Joined: Jul 2009

    +9

    Translation

    "Anyone out there listening? Hello? Yeah, we'd like someone to buy RIM before it implodes. Any offers? Seriously, we'd rather that you shut down some of their operation in a merger than let them go under completely. I don't see any takers. Is my microphone even on?"

  1. PRoth

    Fresh-Faced Recruit

    Joined: Aug 2008

    +5

    Put it up on Craigslist

    Will trade RIM for a hockey team in Southern Ontario.

  1. jarod

    Fresh-Faced Recruit

    Joined: Apr 2005

    +2

    LOL

    Who is their right mind would want to buy that c***?

  1. SockRolid

    Forum Regular

    Joined: Jan 2010

    +3

    A fool and his money...

    @ jarod re: "Who in their right mind..."

    Let's see. Um, yeah, I know a company that is ready to pay $12.5 billion for a has-been cell phone manufacturer just to get their hands on some FRAND-encumbered patents of questionable value.

    And that $12.5 billion is 63% over fair market value for Motorola Mobility. Maybe RIM can get them to pay what, $10 billion? What's 63% over RIM's market cap of $7.6 billion?

    Yup, you guessed it. That hot sucker is Google.

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