Research in Motion has formally announced that it will bid for outstanding common shares of Certicom Corp, a wireless encryption specialist based in Ontario, Canada.
Last week, RIM - which is also based in Ontario - said that it would be offering Certicom's shareholders $1.20 per share, valuing the outstanding shares of the company at $52.6 million, a 76.5 percent premium over the price on the last day of trade.
The offer will be opened until January the 15, which will give Certicom ample time to other competing firms to come forth with any rival bids.
RIM has been looking to beef up the security features of its Blackberry smartphones and is reportedly interested in the company's Elliptic Curve Cryptography technology.
The Blackberry manufacturer has been interested in acquiring Certicom since February 2007 and would make of the security company a wholly-owned subsidiary of RIM.
The Certicom acquisition would give RIM more control over a critical aspect of its business and would give it a key difference as the battle in 2009 on the mobile market intensifies.
Concurrently, RIM has announced that it is looking to add nearly 1300 positions to the 10,000 employees it employs at the moment. In comparison, Nokia, the world's largest mobile phone firm, has more than 120,000 employees on its payroll.