Research in Motion (NASDAQ:RIMM) is beefing up its cloud-based content services with the acquisition of NewBay Networks, a white-label provider of cloud-based services. The company declined to provide specifics, but various news agencies are reporting a purchase price of $100 million.
NewBay makes software that allows users to create, store and share digital content in the cloud. The company has deals with Verizon (NYSE:VZ), AT&T (NYSE:T), T-Mobile USA , U.S. Cellular, Telefónica O2, France Telecom Orange and Telstra.
Although it's unclear exactly how RIM will incorporate NewBay into its business, many believe RIM will use NewBay's LifeCache software as a foundation for future BlackBerry cloud-based content services.
RIM has been making a series of acquisitions lately. In July the company acquired video editing company JayCut and in June the company acquired cross-platform mobile social gaming solutions provider Scoreloop. In March RIM bought tinyHippos, developer of the Ripple multi-platform mobile environment emulator.
For more:
- see this AllThingsD article
- see this ZDNet article
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