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Attention Business Editors
RIM, RBC and Thomson Reuters Joining Forces to Create a Leading Fund for Investment in Mobile Applications and Services
Canadian Organizations to Unite through the BlackBerry Partners Fund to
Advance the International Mobile Industry
TORONTO, May 12 /CNW/ - BlackBerry(R) Partners Fund LP today announced
that Research In Motion (RIM) (TSX: RIM; NASDAQ: RIMM), RBC (RY: TSX; RY:
NYSE) and Thomson Reuters (NYSE: TRI; TSX: TRI; LSE: TRIL; NASDAQ: TRIN),
along with several private Canadian investors, are joining together through
the BlackBerry Partners Fund LP to form a $150 million venture capital fund
that will invest in the best emerging mobile applications and services.
Canadian innovation has led to international success and acclaim for many
organizations and individuals. Through investments in the BlackBerry Partners
Fund, a fund co-managed by RBC Venture Partners and JLA Ventures, several of
these successful organizations and entrepreneurs are now planning to jointly
help develop world-class businesses within the international mobile industry.
"I want to congratulate the members of the BlackBerry Partners Fund LP
for coming together to support innovation in an industry that supports
thousands of jobs and helps so many people around the world connect to one
another and do business," said Premier Dalton McGuinty. "Here in Ontario we
believe that world-beating talent and technology and a firmly embedded culture
of innovation are a durable and sustainable route to prosperity."
"It is gratifying to see world class Canadian companies and investors
joining together to help fuel further innovation globally in the thriving
mobile ecosystem," said Jim Balsillie, Co-CEO, Research In Motion. "The
BlackBerry Partners Fund recognizes that mobile applications and services
represent some of the hottest opportunities in the technology sector today and
will seek to fund the best and brightest innovators from around the world."
"The Thomson Reuters investment in the BlackBerry Partners Fund
underscores our commitment to next generation mobile technologies that will
provide our customers with the ability to readily access intelligence
information and make business-critical decisions anywhere, anytime," said
Devin Wenig, Chief Executive Officer, Markets Division of Thomson Reuters. "As
a leading Canadian business, we are particularly pleased to join Research in
Motion and RBC as one of the founding partners in the fund."
"We are pleased to have the opportunity to bring together many of
Canada's foremost companies and people to create the preeminent mobile and
wireless venture fund in the world," said John Albright, Managing Partner of
JLA Ventures, who will also assume the role of Co-Managing Partner of the
BlackBerry Partners Fund. "The investments this fund will make both
domestically and internationally will further establish the illustrious
reputation for technology innovation Canada has earned."
"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 services (navigation and
mapping), media and entertainment, and lifestyle and personal productivity
applications. The Fund will consider all stages of development and is being
co-managed by JLA Ventures and RBC Ventures 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 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.
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 JLA Ventures
JLA Ventures, a private venture capital firm with offices in Toronto and
Montreal, is a leading investor in technology companies at all stages of
growth. Investors in JLA Venture funds, include; The Bank of Nova Scotia, BDC
Capital, the Caisse de dépôt et placement du Québec, CIBC, Export Development
Canada, FTQ (Federation des Travailleurs et Travailleuses du Quebec), National
Bank Financial, Oak Hill Investment Management L.P., OMERS, RBC Capital
Partners, TD Capital Private Equity Investors, and Teachers' Private Capital,
the private equity arm of the Ontario Teachers' Pension Plan.
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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