Research in Motino has agreed to acquire NewBay Software, a provider of white-label cloud-based content services. RIM has signed an agreement to acquire the company, but has not provided any other comment on the deal. According to AllThingsD, the deal is worth about $100 million.

RIM is likely looking to have its own version of iCloud which is why they are making this purchase. NewBay's cloud-based media management service allows users to store and share pictures, videos, etc., and will likely be the foundation for RIM's cloud services.