Recent reports have stated that Research In Motion is reviewing candidate banking institutions to choose a financial adviser for the company. We all know that RIM is facing some hard times financially and that CEO Thorsten Heins has been quoted lately saying that no strategic financial option is off the table. To help RIM figure out what the best and most feasible course of action for the company is, they are reportedly seeking interviewing multiple financial advisers. The latest report form Bloomberg states that RIM is close to choosing JPMorgan Chase & Co as their adviser. Read on pas the break for the full News Release regarding this upcoming decision.
News Release
April 19 (Bloomberg) — Research In Motion Ltd. is near a decision to pick a financial adviser, and JPMorgan Chase & Co. is the leading candidate to help the company weigh strategy options, two people with knowledge of the matter said.
A final choice hasn’t been made and could come within days, said one of the people, who declined to be identified because the matter is private.
RIM Chief Executive Officer Thorsten Heins, who took over from company co-founders Mike Lazaridis and Jim Balsillie in January, said he’s considering strategy changes after customer and market-share losses led to five straight quarters of sales shortfalls.
Tenille Kennedy, a spokeswoman for Waterloo, Ontario-based RIM, declined to comment, citing a policy not to discuss rumor or speculation. Jennifer Zuccarelli, a spokeswoman for New York- based JPMorgan, also declined to comment.
RIM would prefer to license its BlackBerry mobile operating system, a person with knowledge of the matter said earlier this week. The company is racing to put the final touches on a new platform, known as BB10, and release the first smartphone built on the software later this year.
After a licensing deal, RIM’s next choice would be to find a strategic investor, the person said.
German-born Heins, who joined RIM in 2007, said in March that while the company would consider a sale, that wasn’t “the main direction” he’s pursuing.
RIM slipped 1.6 percent to $13.20 yesterday in New York
Via: N4BB
Justin Lisenby
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