Microsoft and Blackberry to be the Next Google and Motorola

First Motorola, Next BlackBerry.

With Google's (NASDAQ: GOOG) recent acquisition of Motorola Mobility (NYSE: MMI) for $12.5 billion, is Research In Motion (NASDAQ: RIMM) next up for auction?

Mid-February, Research In Motion was trading just under $70 a share. Tuesday, the stock is down to $27 per share with slight increases due to Google's purchase. But with Societe Generale downgrading its RIMM position from "hold" to "sell," there may not be a better opportunity to buy the BlackBerry manufacturer.

During the summer of 2009, BlackBerry controlled the smartphone world with a 21 percent market share. But with recent competition from Apple (NASDAQ: AAPL) and Google's Android, BlackBerry now holds only 12 percent, or 13.3 million smartphones. With multiple new phones being released soon, including the Bold 9900 and 9930, a comeback could be within reach if the new OS 7 operating system is a success, especially with younger smartphone users.

Sale Price

Motorola sold for a 63 percent premium and two analysts believe that Research In Motion could go for more. Citigroup analyst Jim Suva estimates "a blended target price of $49 ($35 based on EV/Sales, $64 based on P/E)." RBC analyst Mike Abramsky "estimates $14.4 billion enterprise value for RIM or $33/share or 34 percent premium." Both estimates are well above the current stock price.

Potential Buyers

Steve Makris believes Microsoft (NASDAQ: MSFT) could be in the running due to most BlackBerry users also using the Windows Platform. Abramsky believes other possible acquirers could be Hewlett-Packard (NYSE: HPQ), International Business Machines (NYSE: IBM), and Samsung.

While Microsoft does have a partnership with Nokia (NYSE: NOK), purchasing Research In Motion would open the door to owning both the BlackBerry OS 7 operating system and seven newly released phones.