Certicom loses US$3.6 million for 3rd quarter

Certicom Corp. lost US$3.6 million but generated higher revenues in the fiscal third quarter, the final quarter before the encryption technology provider is acquired by BlackBerry maker RIM. RIM's acquisition of Certicom will be voted on by shareholders March 18.

Last month, Research In Motion prevailed in its pursuit of Certicom after California-based VeriSign Inc. announced that it would not match RIM's $3 a share offer.
Certicom has about 43.7 million shares outstanding, making the deal worth more than $130 million. Certicom said it paid a $4 million break-up fee to VeriSign.

RIM has used Certicom encryption technology in its BlackBerry devices for years. Under the deal, RIM will have access to encryption technology that could help create new BlackBerry devices that will work like personal wallets, as well as mobile phones.

That could mean BlackBerrys with the same abilities as credit and debit cards - and the ability to pay for items at the cash register through wireless mobile device transactions with retail partners.