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Tag - NewBay
Research in Motion is looking to divest itself of the cloud service provider NewBay, which it acquired only last year. Sources familiar with the BlackBerry maker's plans tell Reuters that the NewBay sale would be yet another step in the company's continuing effort to retool and address its steadily worsening market woes.
RIM in a stealth acquisition has bought NewBay for $100 million. The deal will give it access to LifeCache, a service that lets users upload and share photos and videos. It also gives the BlackBerry creator Social Networking Gateway to help update from a central hub, also inlcuding photo and video services like Flickr and YouTube.