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Press Release
April 7, 2000
Technology Partnerships Canada Invests $34 Million in Research In Motion's Future Wireless Technology
Kanata, ON - Research In Motion Limited (TSE: RIM; Nasdaq: RIMM) today announced Technology Partnerships Canada (TPC) will invest CAN$34 million in a new long-term project to develop next-generation wireless technologies. TPC's investment, which contributes to a larger overall project, will enable RIM to accelerate research and development activities in the area of wireless Internet appliances.
"Canada needs innovative, leading edge communications technology companies like RIM if we are to remain an industry leader," said Canada's Industry Minister, John Manley. "This is one more important step towards making Canada the most connected nation in the world. Becoming connected is all about preparing Canadians for the emergence of electronic commerce and all its economic benefits. eCommerce has the potential to change the way both business and government operate and that's why this project is so important to Canada."
Technology Partnerships Canada (TPC) is a technology investment fund established in 1996 to contribute to the achievement of Canada's objectives of increasing economic growth, creating jobs and wealth, and supporting sustainable development. TPC supports and advances government initiatives by investing strategically in research, development and innovation in order to encourage private sector investment and maintain and grow the technology base and technological capabilities of Canadian industry.
"Jobs, growth, knowledge and innovation are priorities of the Government of Canada. Investment in RIM addresses all four of these requirements," said the Minister.
"RIM is a well-established leader in today's wireless marketplace with proven products and solutions for mobile communications," said Mike Lazaridis, President and Co-CEO at Research In Motion. "This investment from Technology Partnerships Canada will help RIM to accelerate our R&D efforts and accomplish our longstanding vision for advanced, wearable, wireless appliances that enhance the way we communicate and interact with digital information."
About Research In Motion
Research In Motion Limited is a leading designer, manufacturer and marketer of innovative wireless solutions for the mobile communications market. Through development and integration of hardware, software and services, RIM provides solutions for seamless access to time-sensitive information including email, messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers in North America and around the world to enhance their products and services with wireless connectivity. RIM's portfolio of award-winning products includes the RIM Inter@ctive™Pager product line, the BlackBerry™ wireless email solution, wireless personal computer card adapters, embedded radio-modems and software development tools. Founded in 1984 and based in Waterloo, Ontario, RIM is listed on the Nasdaq Stock Market (Nasdaq: RIMM) and the Toronto Stock Exchange (TSE: RIM). Investors may contact investor_relations@rim.net. Customers may contact info@rim.net. Web site: www.rim.net.
Research In Motion, RIM, the RIM logo, Inter@ctive, Inter@ctive Pager, and BlackBerry are trademarks of Research In Motion Limited. Research In Motion and RIM are registered with the U.S. Patent and Trademark Office. All other brands, products and company names mentioned herein may be trademarks or registered trademarks of their respective holders. Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to possible product defects and product liability, risks related to international sales and potential foreign currency exchange fluctuations, risks related to the year 2000 issue, continued acceptance of RIM's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in RIM's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.