RIM to acquire cloud software firm Newbay

Blackberry maker Research in Motion (RIM) has confirmed plans to acquire cloud software firm, Newbay.

Blackberry maker Research in Motion (RIM) has confirmed plans to acquire cloud software firm, Newbay.

Irish firm Newbay provides operators and device makers with a software platform, called LifeCache, to power cloud-based services for digital content across mobile, PC, tablet and TV devices. The "white label" platform allows buyers to give the software its own company brand.

A spokesman for RIM confirmed the company's plans to acquire Newbay and said the deal has not yet closed.

While terms of the deal have not been disclosed, internet reports suggest the deal is worth $100m, according to Reuters.

The Irish Times said RIM intends to keep Newbay's software development centre in Dublin.

Newbay's customers include T-Mobile, Orange, LG and O2. Orange uses Newbay's LifeCache Social Networking Gateway (SNG) to power its mobile social networking service, Social Life. The platform allows Orange users to connect to multiple social networks.

RIM has faced pressure from shareholders following falling share prices, delayed products and loss of market share.

Merchant bank Jaguar Financial, which has investments in Research in Motion (RIM), has called for the Blackberry maker to seek a buyer.

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