RIM acquires NewBay Software for cloud based services at $100 million

According to sources, Research In Motion is said to have struck a deal with NewBay Software which is the provider of cloud based content services. The agreement has been signed at a price of $100 million. No other information has been revealed by the company but the move should be fruitful for the BlackBerry maker. NewBay is known for its cloud-based media management services which allows users to store and share pictures, videos, etc. NewBay’s flagship LifeCache software is widely used by carriers like T-Mobile, Deutsche Telekom, Telefonica, AT&T and Verizon, so RIM should not have any problems deciding as to how they can use the new services offered by the agreement.