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Slideshow RIM looks to sell NewBay, other assets: source Tweet Share this Email Print Related News S&P 500 ekes out gains to run streak to six days Fri, Aug 10 2012 IBM made "informal approach" for RIM'S enterprise business: report Thu, Aug 9 2012 U.S. judge backs RIM in patent dispute with Mformation Thu, Aug 9 2012 Former Apple designer says Samsung phones looked similar Tue, Aug 7 2012 Apple won't include YouTube app in new mobile software Tue, Aug 7 2012 Analysis & Opinion How Bloomberg can still run Washington Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Media » TORONTO | Sat Aug 11, 2012 1:20am EDT TORONTO (Reuters) - BlackBerry maker Research In Motion is looking to sell cloud services provider NewBay and some of the other minor assets it recently acquired, as part of a strategic review process, according to a source familiar with the matter. RIM acquired NewBay, a provider of photo, video, and social-networking tools for smartphones and computers, in October 2011 for reportedly around $100 million, as it sought to roll out a new strategy to stem its steady decline. RIM declined to comment on the sale report. RIM, based in Waterloo, Ontario, is a pioneer in the smartphone industry, but has struggled over the last couple of years, as its aging line-up of BlackBerry smartphones have not been able to compete against more-advanced devices like Apple Inc's iPhone and a slew of other devices based on Google Inc's Android software. The acquisition of NewBay in Dublin, Ireland, was a huge part of the former RIM leadership's plan to alter its course and boost service revenue by having carriers use its services for messaging, content delivery and analytics on all smartphones. When RIM bought it in late 2011, NewBay had over 80 million subscribers. NewBay stores media on its own servers and delivers it to any Internet-connected device, including mobile phones, personal computers and tablets. But in the face of mounting pressure RIM's Co-Chief Executives Mike Lazaridis and Jim Balsillie resigned early this year. RIM's new CEO Thorsten Heins has begun a strategic review process within the company and is focused on delivering a new line-up of devices that run on RIM's new BB10 operating system, in the first-quarter of 2013. Since taking the reins early in 2012, Heins has retained RBC Capital Markets and JPMorgan to explore options for RIM. Its share price has fallen more than 60 percent over the course of the last year, as RIM has continued to hemorrhage market share to the likes of nimbler competitors like Apple and Samsung Electronics Co. RIM's shares closed more than 6 percent higher at $8.29 on Friday on the Nasdaq, after Bloomberg reported that tech giant International Business Machines Corp had at one point considered buying RIM's enterprise division. (Reporting by Euan Rocha; Editing by Michael Perry) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Inflows Outflows Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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