NewBay Appoints Mark Payne as Chief Financial Officer

DUBLIN--(BUSINESS WIRE)--NewBay (www.newbay.com), a leader in cloud services, has appointed Mark Payne to the position of Chief Financial Officer. As CFO, Mark will be responsible for financial planning, procurement and financial reporting, and will play a major role in shaping the direction of the Company. Mark will split his time between NewBay’s corporate headquarters in Ireland and NewBay’s U.S. operations.

“Mark is a highly respected finance expert with exactly the kind of experience necessary to take a global organization like NewBay to the next level in the cloud services space”

"Mark is a highly respected finance expert with exactly the kind of experience necessary to take a global organization like NewBay to the next level in the cloud services space,” stated Tom Goguen, CEO of NewBay. “Mark’s business and strategy skills will enable NewBay to identify new business opportunities and explore new paths to expand our business regionally.”

Mark brings over 20 years of international finance experience in the communications, banking, manufacturing and retail industries, across the U.S., Europe and Australia. Prior to joining NewBay, Mark was Senior Finance Director, Software and Services at Research In Motion (RIM), responsible for the P&L, new business models, global pricing and strategy of the Consumer and Enterprise Business Units. Before RIM, Mark held several senior finance positions, including Financial Controller of the Java Business Unit at Sun Microsystems with responsibility for the overall financial and portfolio management of the Java Engineering and Marketing groups.

Mark holds a Bachelor of Business degree (Accounting) from Swinburne University of Technology Melbourne and is also a CPA from Australia.

About NewBay

NewBay is a leading provider of cloud services for mobile operators and other service providers. With NewBay’s white label cloud solution users can sync, share, access and organize content across devices including PC, Mac, iPhone, iPad, Android, and WP8 platforms.

NewBay delivers cloud services to millions of users and stores billions of media for customers worldwide. Customers include AT&T, France Telecom, Telstra, T-Mobile, Verizon and U.S. Cellular.

Founded in 2002, NewBay is now a subsidiary of Research In Motion (RIM) (NASDAQ:RIMM; TSX:RIM). NewBay is based in Dublin, Ireland; with offices in Seattle and Atlanta, USA; London, UK; Sydney, Australia and Seoul, South Korea.

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NewBay is a subsidiary of Research In Motion Limited (RIM). Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used herein, words such as "expect", "anticipate", "estimate", "may", "will", "should", "intend," "believe", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by NewBay in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that NewBay believes are appropriate in the circumstances. Many factors could cause NewBay's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the "Risk Factors" section of RIM's Annual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on NewBay's forward-looking statements. RIM and NewBay have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.