RIM upset as VeriSign buys Certicom for $92 million

With recent ruling by Justice Alexandra Hoy to stop RIM from a $66 million hostile takeover bid of Certicom… it comes news today that there actually was another buyer on the table – VeriSign has swooped in to buy Certicom for $92 million (a 40% in in value). The deal is set to officially close in March.

Certicom board chairman Jeffrey Chisholm said “The special committee and the board conducted a thorough process on behalf of Certicom shareholders resulting in a significant increase in value for the company and its owners. We believe this transaction also represents a very promising opportunity for our customers and employees.”

Related posts:

1. Certicom reminds shareholders to reject RIM takeover bid
2. Certicom board recommends shareholders reject bid from RIM
3. RIM to offer $66 million to buy Certicom
4. RIM graciously extends Certicom offer to January 15th