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Rumor: RIM Might Be Looking For Buyers For newbay

nb_logoIt seems almost every day we hear about a new rumor regarding RIM. The latest rumor is that RIM is trying to find a buyer for newbay which the company acquired less than a year ago. RIM is also rumored to also be trying to get rid of some other minor assets in order to increase its cash flows. Selling off liquid assets is one of the ways RIM can generate cash until it has a chance to launch BB10.

RIM did say during their last shareholders meeting that they were looking to save some money and part of that was selling assets the company can do without.  While it would make sense for RIM to get rid of these assets it would be strange for them to sell the company so quickly after acquiring the company.  newbay develops software that allows users to share media from their mobile phones, and update social networks. If the rumors are true then it could mean RIM no longer has a need for the company for the BlackBerry 10 platform.

Source: WSJ

1 comment on this postSubmit your comment!
  1. It may be as you say they no longer need it, have decided to go another direction, etc.

    It is also true that those who made the deal are no longer making deals, and things like this could play into the reason they are no longer making deals.

    I have seen this before, it sometimes goes like this. “This is a mess, why the heck did we buy that, btw, who did this deal? Joe did, he’s gone now”

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