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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, ON (May 12, 2008) — BlackBerry®
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®
wireless platform, the RIM Wireless Handheld™ 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.
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For more information, contact:
Matthew Bogart
BlackBerry Partners Fund
+416-367-2401
Matthew.Bogart@blackberrypartnersfund.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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