Blackberry maker RIM initially bid $66 million cash, or $1.50 per share (76.5% premium over Certicom’s Dec 3 2008 stock price) in a hostile corporate takeover attempt of Ontario-based security software maker Certicom. Since then the two companies have been involved in heated exchanges. The Certicom board thought the bid was too low which undervalued the true company value and it also alleged RIM used classified information in its bid. Certicom subsequently won an Ontario court order blocking the acquisition. It seemed RIM would ended Certicom acquisition attempts.

Now, RIM has just upped its bid to $2.40, sending the Certicom stock price up 35% today on the TSE. The US company Verisign is also interested in the acquisition, who bid $2.10 per share in January, which was approved by the Certicom board. Verisign will have the opportunity to up its bid five days after Certicom chooses RIM, if it does at all.