Research in Motion, the maker of BlackBerry, intends to put the cloud services company NewBay and other newly-obtained smaller properties on sale in an effort to reverse the overall decline of the company.
The company acquired NewBay, a social-networking, image, and video program provider for PCs and smartphones in October last year for 100 million dollars.
The Waterloo, Ontario-based smartphone-maker is one of the first in its industry, but found itself unable to compete against other, more high-end smartphone manufacturers, such as Apple and Google’s Android software.
When the company purchased NewBay in late 2011, it had more than 80 million users. NewBay, as a cloud services provider, stores media online and sends it to any device with Internet access, like mobile phones, tablets and personal computers.
Earlier this year, both Chief Executives Jim Balsille and Mika Lazaridis resigned due to the pressure brought about by the declines. The newly instated CEO, Thorsten Heins, taking over in the 1st quarter of 2012 plans to venture on a strategic review process for RIM and is geared towards delivering a new array of gadgets that operate on RIM’s new operating system, BB10, slated to launch in early 2013.
Moreover, the new CEO has decided to keep both the JP Morgan and RBC Capital Markets to look for greater opportunities for the company.
Throughout last year, the company’s price per share has dropped by more than 60% and has continued to drop in market share to smarter adversaries, including Samsung Electronics and Apple.
Source: http://socialbarrel.com/research-in-motion-plans-to-put-newbay-and-other-assets-on-sale/41817/
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