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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, ON (May 12, 2008) — 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® Partners
Fund, a US$150 million venture capital fund, to invest in
mobile applications and services for the BlackBerry® 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®
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 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.
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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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