RIM receives equity investment from Intel Corporation
2 September 1997Waterloo, Ontario – Research In Motion Limited (RIM) of Waterloo, Ontario, announced today that Intel Corporation has made an equity investment in RIM and that the two companies have entered into a technology agreement. The terms of the investment and related agreements were not disclosed.
"Wireless data products for personal communications are an important market segment for Intel's embedded silicon products as well as being significant to the evolution of digital communications in general," said Tom Franz, General Manager of the Embedded Microcomputer Division at Intel. "We believe that advances in semiconductors will rapidly increase the utility of wireless data devices and look forward to working with RIM toward this goal."
"We are pleased Intel is adding a new dimension to our long standing relationship," said RIM President Mike Lazaridis. "Intel's leadership in semiconductors is complementary to RIM's leading wireless products for our customers worldwide."
Founded in 1984, RIM is a leading international developer, manufacturer, and worldwide marketer of battery-efficient radio modem technology for a variety of innovative devices for the narrowband-PCS wireless data industry. RIM supplies two-way Inter@ctive™ Pagers, wireless PCMCIA network adapters and OEM radio modems for wireless data networks operating throughout the world.
Intel, the world's largest chip maker, is also a leading manufacturer of personal computer, networking, and communications products.