RIM in bidding war

Aims to take over Mississauga’s Certicom

Missisauga-based Certi­com Corp. has become the target of a bidding war initiated by long-time part­ner Research In Motion that has boosted its shares by more than 75 per cent over the past month.

The 120-employee company licenses and develops encryption software that’s used by RIM to help provide its BlackBerry wireless email platform with a level of security that is the envy of the industry.

RIM outbid California-based VeriSign, an Internet security provider, with a $3 per share offer that values the company at about $131 million. Certicom, which holds some 470 patents, said VeriSign has until Wednesday to sweeten its $2.10 per share bid.

Shares of Certicom closed at $3.20, up 4 cents, Thursday on the TSX.