| RIM mulls NewBay sale to stay afloat |
TORONTO BlackBerry maker Research In Motion is looking to sell cloud services provider NewBay and some of the other minor assets it acquired, as part of a strategic review process, according to a source familiar with the matter.
RIM acquired NewBay, a provider of photo, video, and social-networking tools for smartphones and computers, in October 2011 for around $100 million, as it sought to roll out a new strategy to stem its decline.
RIM declined to comment. RIM has struggled over the last couple of years, as its aging line-up of BlackBerry smartphones have not been able to compete against more-advanced devices like Apple’s iPhone and a slew of other devices based on Google’s Android software.
The acquisition of NewBay in Dublin was a huge part of the former RIM leadership’s plan to alter its course and boost revenue by having carriers use its services for messaging, content delivery and analytics on all smartphones.
Reuters
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