- RIM May Sell Off NewBay Cloud Service
  • RIM May Sell Off Its NewBay Cloud Service

    The Wall Street Journal is reporting today that Research In Motion may be looking to sell off its NewBay Cloud Service. NewBay, which RIM acquired 10 months ago for $100 million, may be sold off as means to achieve the proposed plan of $1B in savings that CEO Thorsten Heins has talked about on several occasions.

    RIM has had to make a few tough decisions in order to meet this goal. With the expected 5,000 employee layoffs being the toughest, it would make a lot of sense for RIM to unloaded anything they don't need this instant to bring cash in.

    Of course with all rumors, nothing is official until we get a nice little press release or statement directly from Research In Motion themselves.

    How will this move could affect RIM in the long term will have to be seen. Cloud services are looked at as the future in mobile computing. Hopefully RIM has kept all their aces up their sleeves.

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