RIM returns with doubled offer for Certicom

Jim Balsillie,co-chief executive of Research In Motion (RIM), poses with the new ''Blackberry Bold'' handset during its launch in Mumbai September 18, 2008.

TORONTO (Reuters) - BlackBerry maker Research In Motion (RIM.TO)(RIMM.O) returned with a second offer for electronic security company Certicom Corp (CIC.TO) on Tuesday, doubling its bid to C$3 a share.

The new offer is also about 43 percent higher than a bid of C$2.10 a share Certicom had received from Internet security provider VeriSign Inc (VRSN.O).

Certicom has about 43.7 million shares outstanding, according to Reuters data. This would value the new RIM bid at C$131.1 million ($106.6 million). Certicom said its independent directors are reviewing the RIM bid with its financial and legal advisers.

A big draw of the BlackBerry smartphone for RIM's huge base of business users is its ability to send wireless e-mail and messages securely. Certicom's technology could help RIM further bolster electronic security features on its handsets.

Late last month, Waterloo, Ontario-based RIM dropped its C$1.50 a share offer for Certicom after the target company got a court injunction blocking the bid. Certicom alleged RIM had violated non-disclosure agreements by using confidential information for its hostile bid.

Certicom's board plans to tell its shareholders what it thinks of the latest RIM offer no later than Thursday, the company said.

Certicom shares were halted on the Toronto Stock Exchange. They last changed hands at C$2.40 each.

($1=$1.23 Canadian)

(Reporting by Wojtek Dabrowski; editing by Rob Wilson)