RIM May Sell NewBay, Other Assets

BlackBerry maker Research in Motion (RIL) 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.