VeriSign will not pursue RIM’s “Superior Proposal” of Certicom

The Certicom/RIM/VeriSign saga has been fun to watch and would make a great movie.

Certicom has issued a statement that they have received notice “that VeriSign will not exercise its right to match the offer by Research In Motion Limited”. This now means that Certicom will officially be purchased by RIM for a “Superior Proposal” of $3.00 a share (close to $131 million)… double from what they originally offered. Certicom’s Board of Directors are meeting later to today to officially approve the RIM offer. Under the VeriSign agreement, Certicom will pay them a $4 million termination fee.