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Attention Business Editors
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, May 12 /CNW/ - 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(R)
Partners Fund, a US$150 million venture capital fund, to invest in mobile
applications and services for the BlackBerry(R) 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 Jim Balsillie, Co-CEO, Research In Motion. "RIM, RBC and Thomson
Reuters share the common belief that mobile applications and services will
propel the industry forward and the BlackBerry Partners Fund is being formed
to help fuel innovation and activity in the mobile ecosystem."
"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(R) wireless platform, the RIM Wireless Handheld(TM) product line,
software development tools, radio-modems and software/hardware licensing
agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates
offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq
Stock Market (Nasdaq: RIMM) and the Toronto Stock Exchange (TSX: RIM). For
more information, visit www.rim.com or www.blackberry.com.
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 New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs more than 50,000 people in 93 countries. Thomson
Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto
Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq
(NASDAQ: TRIN). For more information, go to www.thomsonreuters.com.\
About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate
under the master brand name of RBC. We are Canada's largest bank as measured
by assets and market capitalization and one of North America's leading
diversified financial services companies. We provide personal and commercial
banking, wealth management services, insurance, corporate and investment
banking, and transaction processing services on a global basis. We employ
approximately 70,000 full- and part-time employees who serve more than
15 million personal, business, public sector and institutional clients through
offices in Canada, the U.S. and 36 other countries. For more information,
please visit rbc.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.
The BlackBerry and RIM families of related marks, images and symbols are
the exclusive properties and trademarks of Research In Motion Limited. RIM,
Research In Motion and BlackBerry are registered with the U.S. Patent and
Trademark Office and may be pending or registered in other countries. RIM
assumes no obligations or liability and makes no representation, warranty,
endorsement or guarantee in relation to any aspect of any third party products
or services. Trademarks used in this press release include Royal Bank of
Canada, RBC, and RBC Venture Partners which are trademarks of Royal Bank of
Canada and/or its subsidiaries under license.
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/For further information: Matthew Bogart, BlackBerry Partners Fund, (416)
367-2401, Matthew.bogart@blackberrypartnersfund.com/
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