MISSISSAUGA, Ontario (AP) — Certicom says BlackBerry-maker Research In Motion (RIM) is leading the bidding war for its encryption technology company.
Certicom said Thursday that RIM’s takeover bid of $3 Canadian dollars per share is superior to California-based VeriSign Inc.’s bid of CA$2.10 per share.
Certicom had struck a deal with VeriSign that values the company at CA$92 million ($74 million).
RIM’s $128.1 million ($104.3 million) offer is the second time the telecom giant has bid on Certicom. An Ontario judge ordered RIM to withdraw its initial offer on the grounds that it obtained privileged information through its previous business relationship.
VeriSign has five days to present a counteroffer.