Report: Research In Motion Angles for Sale to Samsung

By FOXBusiness

RIM Shares Surge on Report of Samsung Sale

FBN’s Shibani Joshi on reports of Samsung considering buying Research in Motion.

Floundering BlackBerry maker Research In Motion (NASDAQ:RIMM) is reportedly pushing for a sale of the entire company to South Korean electronics maker Samsung.

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According to, while Waterloo, Ontario-based RIM is currently in talks to license its software to other vendors, the company is leaning toward an outright sale of one or more divisions -- or even the whole company.

In fact, co-CEO Jim Balsillie is actively meeting with almost every potential suitor, including Samsung, BGR reported.

“Jim is going hard after Samsung,” a source told the tech blog.

Pressured by disgruntled shareholders alarmed by RIM’s shrinking market share, the Canadian company has been forced to explore a number of strategic options, including a sale of all or part of the company.

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The BlackBerry maker, which essentially created the smartphone market it is now struggling in, is seeking a buyout bid worth between $12 billion to $15 billion, compared with its current market cap of just $8.5 billion, BGR reported.

However, the tech blog said no deal has been reached because that asking price is too rich.

Still, the news helped fuel a rally in RIM’s shares Tuesday morning. RIM was recently trading up 4.64% to $16.92, piling on to its 2012 rally of almost 12%.

Asian electronics behemoth Samsung could be interested in RIM’s popular BlackBerry Messenger and other enterprise features as a way to differentiate itself from other Android devices, BGR reported. Android is the operating system owned by Google (NASDAQ:GOOG).

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