RIM Completes Chalk Acquisition

Research in Motion (NSDQ: RIMM) has completed its acquisition of mobile software firm Chalk Media, which developed Mobile chalkboard which facilitates the creation of video and audio content for Blackberry devices and the sending of that content, to people within an organization, for example. The purchase received approval from Chalk’s shareholders on January 27th and was approved by the Supreme Court of British Columbia on January 28. The deal was announced last month, with RIM offering CA$23.1 million (US$17.2 million) in cash along with a CA$2.2 million loan to tide Chalk over until the acquisition was finalized. The deal came to 14.2 Canadian cents per share, which had previously closed at 4.5 Canadian cents.

Comments have been disabled for this post