BlackBerry maker Research In Motion (RM) seems to be quite busy with the launch of its upcoming flagship device BB10, which is now less than a month away (January 30, 2013). However, the latest update has revealed that the Waterloo-based company is taking care of loads of other things along with their preparations for the launch of BB10.
Reports have made it known that RIM has just given away its NewBay cloud services subsidiary to Synchronoss Technologies Inc. for $55 million. The reason for selling this subsidiary was that RIM no longer believed that NewBay is a core component of its next generation Blackberry portfolio therefore the Canadian company decided that parting ways with the asset was in the best interest of all parties involved.
RIM said in a announcement that, “As we execute our transition and seek to save over $1-billion in operating costs, we have taken the decision to divest NewBay as it was not deemed core for the BlackBerry product roadmap in the future”.
This deal was conducted in the presence of both Jim Balsillie and Mike Lazaridis, but in the absence of CEO Thorsten Heins, which indicates that he might not agree with the idea of selling NewBay.
Nevertheless, only time will tell whether this deal remain fruitful for the Blackberry portfolio or not. One thing for certain at the moment is that Synchronoss appears quite happy with acquisition of NewBay, as in a statement Chief Executive Officer of the company, Stephen G. Waldis said:
“By adding NewBay’s technology assets and millions of subscribers, this transaction further establishes Synchronoss as the clear leader in providing cloud based mobile content services for mobile operators around the world. By combining our strengths, Synchronoss will deliver the most comprehensive, scalable and secure cloud platform, and we will significantly expand our early market share leadership position.”
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