Reuters 
Published: 11 Feb 2009 12:29 GMT
Security software company Certicom has agreed to be bought by BlackBerry maker Research In Motion for around C$131m, spurning a lower bid from VeriSign.
RIM raised its offer to C$3 (£1.70) a share for Certicom last week, double its initial hostile takeover offer in December and significantly trumping VeriSign's C$2.10 per share bid.
"The board of directors of Certicom has concluded that the RIM transaction is in the best interests of the corporation," Jeffrey Chisholm, chairman of Certicom's board, said in a statement late on Tuesday.
Certicom had earlier received notice from VeriSign that it would not try to match RIM's bid.
Certicom, whose technology has been approved by the US National Security Agency for government communications, said it was still allowed to terminate the agreement with RIM in favour of an unsolicited superior proposal, subject to a C$4m termination fee.
It said it paid internet security provider VeriSign a C$4m termination fee.
Shares in Certicom fell 8.9 percent on the Toronto Stock Exchange on Tuesday to C$2.97.
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