Certicom

Certicom is a supplier of digital information products and services to original equipment manufacturers of information technology products. As wireless electronic commerce spread worldwide, the company worked to develop a highly efficient and secure method of encryption. Two years after successfully completing a Canadian initial public offering, they made two acquisitions that increased their product breadth and the company moved to Silicon Valley. Knowing that their continued growth in a highly competitive market was dependent on their ability to respond to new products and changing technologies, the chief executive officer decided to pursue a listing on the Nasdaq. During the mandatory series of informational meetings to line up institutional investors, the company had received considerable investor interest. The day before Certicom was to make its Nasdaq debut, however, the Nasdaq suffered one of its largest single day losses in history. The chief executive officer considered the hard work and optimism that had brought him to the Nasdaq listing and what options, if any, he could now pursue.