RIM shares gain on speculation of IBM interest
Posted: Aug 10, 2012 11:05 AM ET
Last Updated: Aug 10, 2012 10:11 PM ET
Shares in Research In Motion Ltd. rose more than six per cent on Friday after a report that technology giant IBM may be interested in acquiring the company's lucrative enterprise-services business.
Bloomberg reported Friday that IBM has approached the Waterloo, Ont.-based BlackBerry maker about acquiring the division, which operates a network of secure servers that support RIM’s BlackBerry devices. The financial news agency cited two unnamed sources with knowledge of the situation.
When asked for comment, RIM spokesperson Nick Manning said the company does not comment on rumours and speculation.
RIM shares closed with a gain of 50 cents, or 6.5 per cent, at $8.22 in Toronto.
RIM shares have been hit hard this year, but the company insists that if consumers and investors wait for the release of their new BlackBerry 10 smartphones next year, their patience will be rewarded.
Earlier this week, RIM shares saw a bump after an analyst report speculated Korean electronics giant Samsung might be interested in acquiring the company. Samsung quickly denied that suggestion, but the shares steadily gained following the release of the report.
On Wednesday, RIM got a piece of good news on the legal front Wednesday when a U.S. judge overturned a $147.2-million patent infringement verdict in favour of Mformation Technologies Inc. The case involved software for managing mobile devices.
This time last week, RIM shares were trading below $7.