RIM's share price has been shooting up on the news that Lenovo is sniffing around it. Buying it would cost North of $9 billion - its current market cap.
Lenovo has done a terrific job in the PC business since buying IBM's PC business in 2005. Taking IBM founder Thomas Watson Snr's iconic slogan 'THINK' for its PC business brand name, Lenovo has driven the business to become the world's No.1 PC supplier.
Lenovo is already in the mobile phone business but the acquisition of RIM would make it a formidable competitor to Apple, Samsung and Nokia.
Of course the Canadians could get arsey - and it looks as if they will - by refusing to agree the deal on grounds of national interest.
The Canadian finance minister has said he would look 'carefully' at any such deal adding that some local technologies will be protected against overseas acquisition.
On the other hand, RIM has said that it is considering both licensing its software and selling its hardware division, while Lenovo has said it is on the acquisition trail.
In which role Lenovo must have considered ST-Ericsson as a potential target. ST says it will divest STE by Q3.
Or Lenovo may be waiting for the big one - Nokia - now having a bit of a resurgence but very vulnerable to any miss-step and running low on cash.
On the other hand, Wednesday's events could decide the issue. On Wednesday Jan 30 RIM's new CEO Thorstein Heins unveils Blackberry 10. The word is that RIM has bet the farm on it