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

Corey

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Corey Apprentice

Corey

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RIM Asset Sale NewBay

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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