01-13-2005, 02:32 PM
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| | [01-13-2005] RIM stock rises on acquisition speculation
Blackberry developer Research in Motion (RIM) could be the subject of a takeover bid, Goldman Sachs suggested this week after dubbing the company a "very attractive" acquisition. |
The report helped push RIM shares up 7.4 per cent on speculation that there may be more to the investment bank's comments than meets the eye. On Nasdaq, RIMM stock closed at $78.44, up from the previous day's closing price, $73.02.
Yesterday's closing price values RIM at $14.7bn.
GS' report mentions two possible suitors, Nokia and Motorola, which might be interested in RIM to boost corporate sales. Both are best known for their handset hardware, and despite its focus on enterprise software, RIM is similarly perceived as a hardware company, making over 70 per cent of its revenues from device sales.
That puts it head-to-head with handset makers, while other other enterprise push email providers, such as Good Technology and Extended Systems, focus on server software and code for a range of third-party client devices.