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RIM buys Vancouver's Chalk Media for $23.1-million

Posted by Rob Lewis on Thu, December 11, 2008 7:56 AM · Filed under Vancouver, Kitchener-Waterloo , Mobile · Comments

Waterloo's Research In Motion has agreed to acquire Chalk Media Corp. for $23.1-million in cash. As part of the deal, RIM is lending the Vancouver-based mobile-media software maker $2.2 Million to provide working capital until the deal is completed. RIM is offering 14.2 cents per share for Chalk Media, which last traded at 4.5 cents on the TSX Venture Exchange, with a 52-week range between 24.5 cents and two cents.

Chalk Media developed Mobile Chalkboard, which creates and deploys media-rich content delivery to RIM's BlackBerry smart phones. The technology has been “embraced by large corporate and government organizations that have deployed the BlackBerry platform and will provide a powerful addition to RIM's portfolio of products and services for enterprise customers,” Research In Motion said.

More on this acquisition later this afternoon. Chalk Media is a Yaletown neighbour and I hope to sit down with their EVP.

Company:: Chalk Media
Website:: http://www.chalk.com
Location:: Vancouver, British Columbia, Canada

Chalk is a leading provider of tailored enterprise solutions that help organizations communicate more effectively with their employees, business... [more]

Company:: Research In Motion
Website:: http://www.rim.net
Location:: Waterloo, Ontario, Canada

BlackBerry (Research In Motion) is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile... [more]

About The Author

Rob Lewis
Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com. His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not blogging on...[more]