WATERLOO and VANCOUVER – Research In Motion (RIM) is acquiring Vancouver-based Chalk Media in an all-cash transaction for $23 million.
Chalk is the developer of Mobile chalkboard application, which enables the creation and tracked deployment of “media-rich Pushcasts" to BlackBerry smart phones. The application allows targeted video or audio files to be distributed to BlackBerry smart phones within an organization, the press release said.
The acquisition is to be carried out by way of a statutory plan of arrangement and will be subject to approval of 75% of the votes cast by Chalk’s shareholders at a special meeting of shareholders in January, as well as court approval. The transaction is also subject to regulatory approvals, but the companies expect it to close in February 2009.
