RIM to Buy QNX to Gain Wireless Technology Used in Audi, BMW, Acura Cars
Research In Motion Ltd., the maker of the BlackBerry phone, agreed to acquire QNX Software Systems from Harman International Industries Inc. to gain technology for wireless connections in cars.
Terms of the deal, which RIM expects to close in 45 days, weren’t disclosed in the statement from the Waterloo, Ontario- based company today. Harman had bought QNX in 2004 for $138 million in cash and also assumed some debt.
RIM will gain technology that helps Bayerische Motoren Werke AG, Volkswagen AG’s Audi and Honda Motor Co.’s Acura cars connect to mobile phones, iPods and navigation systems. RIM is expanding into new markets as sales growth slows amid falling prices and competition from devices such as Apple Inc.’s iPhone.
RIM rose 29 cents to $69.97 at 4 p.m. New York time on the Nasdaq Stock Market. The stock has gained 3.6 percent this year. Harman, based in Stamford, Connecticut, climbed 72 cents to $49.18 in New York Stock Exchange composite trading. The maker of car audio systems has advanced 39 percent this year.
To contact the reporter on this story: Amy Thomson at athomson6@bloomberg.net
Rate this Page