RIM, RBC and
Thomson Reuters
to Anchor a $150 Million BlackBerry Partners Fund
Focused on Investing in Mobile Applications and Services
New
fund to mark "mobile" as the new frontier
Toronto,
ON (May 12, 2008) – Research In Motion (RIM)
(TSX: RIM; NASDAQ: RIMM), RBC (RY: TSX; RY: NYSE) and Thomson Reuters
(NYSE:
TRI; TSX: TRI; LSE: TRIL; NASDAQ: TRIN), today announced plans to
launch the
BlackBerry® Partners Fund, a US$150 million venture capital
fund, to invest in
mobile applications and services for the BlackBerry® platform
and other mobile
platforms. The Fund is to be co-managed by JLA Ventures and RBC Venture
Partners.
Agnostic to both stage and
balance sheet, the BlackBerry Partners Fund will not restrict the
development of
mobile applications and services to any single mobile platform or any
specific
industry segment. The Fund will be designed to advance the industry by
fostering development and driving the entrepreneurial spirit to create
the most
innovative mobile offerings for customers.
“The mobile world has
evolved well beyond phone calls and simple messaging to require more
empowering
and liberating solutions that connect people to everything that matters
most to
them, wherever and whenever they want,” said
“Thomson Reuters is
committed to supporting the development of next generation mobile
applications
that will provide our professional and business customers with
anywhere,
anytime capabilities,” said Devin Wenig, Chief Executive
Officer, Markets
Division of Thomson Reuters. “The
ability to make business critical decisions with intelligent
information
available on mobile devices will give our customers a clear competitive
advantage.”
“The BlackBerry Partners
Fund will focus on evaluating companies in all regions of the world and
investing in the long term success of those that demonstrate market
leadership
and unique differentiation,” said John Albright, Managing
Partner of JLA
Ventures, who will also assume the role of Co-Managing Partner of the
BlackBerry Partners Fund. “Whether it's
access to corporate data or the
latest craze in mobile entertainment, we want to fund companies that
are forerunners
in driving adoption and further enriching the mobile
experience.”
"The BlackBerry
Partners Fund will be a catalyst for the development of next generation
mobile
applications and services," said Kevin Talbot, RBC Vice President and
Managing Director of RBC Venture Partners, who will also assume the
role of Co-Managing
Partner of the BlackBerry Partners Fund. "The BlackBerry Partners Fund
will
focus exclusively on mobile applications and services and our close
alliance
with RIM will bring unparalleled access and value to our portfolio
companies."
About
BlackBerry Partners Fund
The BlackBerry Partners Fund is a $150 million
venture capital fund being formed to focus on applications and services
for the
BlackBerry platform and other mobile platforms including mobile
commerce
(payments, advertising, retailing and banking), vertical and horizontal
enterprise applications, communications, social networking,
location-based
applications and services (navigation and mapping), media and
entertainment,
and lifestyle and personal productivity applications.
The Fund will consider all stages of
development and is to be co-managed by JLA Ventures and RBC Venture
Partners.
To sign up to receive further information visit:
www.blackberrypartnersfund.com.
About
Research
In Motion
Research In Motion is a
leading designer, manufacturer and marketer of innovative wireless
solutions
for the worldwide mobile communications market. Through the development
of
integrated hardware, software and services that support multiple
wireless
network standards, RIM provides platforms and solutions for seamless
access to
time-sensitive information including email, phone, SMS messaging,
Internet and
intranet-based applications. RIM technology also enables a broad array
of third
party developers and manufacturers to enhance their products and
services with wireless
connectivity to data. RIM’s portfolio of award-winning
products, services and
embedded technologies are used by thousands of organizations around the
world
and include the BlackBerry® wireless platform, the RIM Wireless
Handheld™
product line, software development tools, radio-modems and
software/hardware
licensing agreements. Founded in 1984 and based in
About
Thomson Reuters
Thomson Reuters is the
world’s leading source of intelligent information for
businesses and
professionals. We combine industry expertise with innovative
technology
to deliver critical information to leading decision makers in the
financial,
legal, tax and accounting, scientific, healthcare and media markets,
powered by
the world’s most trusted news organization. With headquarters
in
About
RBC
Royal Bank of
For
more information, contact:
Matthew
Bogart
BlackBerry
Partners Fund
+1-416-367-2401
Matthew.bogart@blackberrypartnersfund.com
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws relating to plans and expectations for the BlackBerry Partners Fund. The terms and phrases, “plans to launch”, “is to be co-managed”, “will”, “to be focused”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the parties to this news release in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. Many factors could cause the actual results, performance or achievements of the Fund, to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the following: the launch of the Fund will be subject to, among other things, the approval of the final structure and terms of the Fund by RIM, RBC, Thomson Reuters and the managers of the Fund, the preparation of definitive documentation relating to the Fund, compliance with applicable regulatory requirements and other customary closing conditions; risks relating to the Fund’s ability to identify suitable investment opportunities; risks relating to investment in early-stage and speculative technologies and companies, the success of which may be uncertain; and other risks relating to the mobile communications industry, many of which are discussed in greater detail in the "Risk Factors" section of RIM's Annual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements contained in this news release. The parties to this news release have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.