Certicom board recommends shareholders reject bid from RIM

certicomIn what is turning into a technology soap opera, Certicom has Board of Directors is advising its shareholders to reject the hostile offer of $1.50 per share stating it does not provide fair value for Certicom’s cash on hand and the bid undervalues Certicom’s unique industry-leading data encryption technology.

In addition, Certicom filed an application earlier today to the Ontario Superior Court for an injunction to stop RIM’s hostile take-over bid.