Meet the Rapper Who Wants to Buy RIM

Posted by Techvibes NewsDesk

Rapper-turned-entrepreneur Nono Pearson wants to buy a controlling stake in RIM. But not with money. Known in hip hop as Big Reality, Nono has proposed to buy Research In Motion with pre-IPO stock of his five-year-old New York company, United Vision Marketing firm.

“Our intentions are to buy a controlling share of RIM in a stock swap deal, basically just a reverse takeover of a private company acquiring a public company,” Mr. Pearson explained in an interview with the Financial Post. “A lot of people think this is like a joke," he added. "They don’t understand this is possible.” 

With analysts suggesting that RIM is quickly running out of potential suitors, perhaps his idea isn't completely ludicrous. But UVMF is only worth $4.5 billion, based on him recently putting 35% of the company for sale at $1.6 billion—merely two-thirds of RIM's current value of roughly $7-billion valuation.

Nono did, however, describe his offer as "negotiable" and hinted that he is in a position to offer "some cash" in addition to company stock. But there is yet another wrinkle: UVMF is fighting recent accusations of selling fake stock. Ruh-roh.

Of course, RIM isn't perfect either. They're facing a fresh round of patent infringement litigation, and, as Nono notes, the company culture "is not heavy with creativity."

Ultimately, the rapper says that his offer is "not that far fetched." RIM wouldn't comment on the matter.

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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