Well, that certainly didn’t last too long. Just 10 months after purchasing NewBay Software for $100 million, Research in Motion is looking to sell the cloud services provider, according to a report by Reuters citing a source familiar with the situation.
NewBay, whose cloud-based digital content offerings power photo albums, social networking services and calendars for wireless carriers, is based in Dublin. However, the 10-year-old company established its North American headquarters in Seattle in 2010. Customers include T-Mobile USA, U.S. Cellular, AT&T, Telstra, Verizon and LG Electronics.
RIM’s troubles have been well documented, with a new leadership team and slumping stock price. Just last week, BGR reported that the company is likely to start a restructuring this month that will cost some 3,000 workers their jobs. In June, the BlackBerry maker said it planned to reduce its workforce by 5,000.
Newly-appointed RIM CEO Thorstein Heins also has reportedly retained RBC Capital Markets and JPMorgan to explore strategic options for the company. In addition to NewBay, RIM owns Seattle-based Gist, which is acquired in February 2011.
