RIM Receives $25MM Equity Investment From and Forms Alliance with Nortel Networks
Tuesday January 18, 6:00 am Eastern Time
Company Press Release
SOURCE: Research In Motion Limited
Research In Motion and Nortel Networks Form Alliance
RIM Receives Equity Investment From Nortel
WATERLOO, ON, Jan. 18 /CNW-PRN/ - Research In Motion Limited (Nasdaq: RIMM, TSE: RIM) announced that it has entered into a technology and marketing agreement with Nortel Networks to facilitate co-operation on the development of future wireless Internet technologies and international wireless Internet market opportunities.
As part of the agreement, Nortel Networks has agreed to make a US$25 million equity investment in RIM at prevailing market prices, subject to regulatory approval.
About Nortel Networks
Nortel Networks is a global leader in telephony, data, wireless and wireline solutions for the Internet. The Company had 1998 revenues of US$17.6 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet through Unified Networks that promise a new era of collaboration, communications and commerce. Visit us at www.nortelnetworks.com
About Research In Motion
Research In Motion Limited (RIM) is a leading designer, manufacturer and marketer of innovative wireless solutions for the mobile communications market. Through development and integration of hardware, software and services, RIM provides solutions for seamless access to time-sensitive information including email, messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers in North America and around the world to enhance their products and services with wireless connectivity.
RIM's portfolio of award-winning products includes the RIM Inter@ctive(TM) Pager product line, the BlackBerry(TM) wireless email solution, wireless personal computer card adapters, embedded radio-modems and software development tools. Founded in 1984 and based in Waterloo, Ontario, RIM is listed on the NASDAQ Stock Market (NASDAQ: RIMM - news) and the Toronto Stock Exchange (TSE: RIM - news). Investors may contact investor_relations@rim.net. Customers may contact info@rim.net. Web site: www.rim.net
Research In Motion, RIM, the RIM logo, Inter@ctive, Inter@ctive Pager, BlackBerry, the BlackBerry logo and 'Always On, Always Connected' are trademarks of Research In Motion Limited. Research In Motion and RIM are registered with the U.S. Patent and Trademark Office. Nortel Networks and Unified Networks are trademarks of Nortel Networks. All other brands, products and company names mentioned herein may be trademarks or registered trademarks of their respective holders. Forward-looking statements in this news release are made pursuant to the ``safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to possible product defects and product liability, risks related to international sales and potential foreign fluctuations, risks related to the year 2000 issue, continued acceptance of RIM's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in RIM's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.
SOURCE: Research In Motion Limited |
