RealTime IT News

Research in Motion Moves into Nortel's Wireless Plan

Research In Motion Ltd. (RIM) Tuesday landed an agreement and a $25 million investment from Nortel Networks.

Following up on Nortel's recent wireless initiatives, the deal is to co-develop future wireless Internet technologies and jointly pursue international wireless Internet market opportunities.

As part of the agreement, Nortel Networks has agreed to make a $25 million equity investment in RIM at prevailing market prices.

Research In Motion Limited designs, manufactures and markets wireless solutions for the mobile communications market. It provides solutions for access to e-mail, messaging, Internet and intranet-based applications from wireless devices.

RIM's portfolio of products includes the RIM Inter@ctive Pager product line, the BlackBerry wireless e-mail solution, wireless personal computer card adapters, embedded radio-modems and software development tools.

Nortel Networks latest wireless plays include plans to launch trials with Vodafone in the U.K.