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NewBay, other RIM assets up for grabs as company digs for cash

Updated Jan 8th, 2013 2:43PM EST

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Struggling smartphone maker Research In Motion (RIMM) is looking to offload some of its other “minor assets” in an effort to scrounge up cash, Reuters reports. Citing a single unnamed source with its report, the news organization says RIM is looking to sell recent acquisition NewBay as well as other assets “as part of a strategic review process.” Dublin, Ireland-based NewBay, which RIM acquired for a reported $100 million, is a cloud-based service provider that focuses on photo, video and social sharing tools for smartphones and desktop platforms. The service had more than 80 million subscribers when RIM purchased it in October 2011.

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Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.