RIM looks to sell NewBay, other assets
August 12 , 2012
BlackBerry maker Research In Motion (RIM) is seeking to sell cloud services provider NewBay and some of its other recently acquired minor assets, according to sources familiar with the matter.
RIM acquired NewBay, a provider of photos, videos, and social-networking tools for smartphones and computers, in October 2011 for around $100 million.
The move comes as part of a strategic review process and will focus on delivering new devices that run on RIM's new BB10 operating system in the first-quarter of 2013.
RIM has struggled in recent years as its range of BlackBerry smartphones have failed to stave off competition from Apple’s iPhone and Google’s Android software.