"While this course of conduct is consistent with Certicom's past conduct in rebuffing RIM's overtures to conclude a negotiated transaction...RIM is disappointed that Certicom directors are again attempting to keep the decision as to whether to accept RIM's offer out of Certicom shareholder's hands," the statement said.

Jim Balsillie, co-CEO of RIM, reported that his company had been talking to Certicom's management about a potential transaction since February 2007. Despite nearly two years of discussions, RIM has been "unable to engage the Certicom management in a meaningful dialogue to advance the terms of a potential transaction."

Certicom responded to the offer by setting up a special committee and saying that its board of directors "will evaluate and consider the adequacy of RIM's proposal, solicit other proposals, consider the full range of alternatives to maximize shareholder value and make the recommendations to the full Board of Certicom."

RIM's formal offer to Certicom shareholders on or before Dec. 12 was C$1.50 per share for a total of C$66 million. Shares in Certicom, which were trading for C$1.70 on the Toronto Stock Exchange early this month, fell to C$1 after RIM announced its offer.

Certicom would be a highly valuable piece of intellectual property for RIM, according to Ronald Gruia, analyst with Frost & Sullivan in Toronto. He said there's a constant demand within RIM to seek alternative routes and build the company's encryption technology team.