[jp] Access Buys PalmSource - Excerpts from press release
jim at bradbury.org
Fri Sep 9 10:28:17 EDT 2005
Japanese software company Access Co., maker of the NetFront Internet browser
for mobile devices, said Friday it has agreed to buy PalmSource Inc., maker
of the Palm operating system for handheld computers and cell phones, for
$324 million in cash.
Sunnyvale, Calif.-based PalmSource will merge with the U.S. unit of Access
to form a wholly owned subsidiary. The Palm OS powers more than 39 million
mobile devices, including Palm hand-held computers and mobile phones.
PalmSource has been an independent software company for less than two years,
having been spun off in October 2003 from Palm Inc., which makesTreo Smartphones,
Tungsten Handhelds and other devices.
In June, PalmSource said it was cutting its full-time work force in the U.S.
by about 16 percent as it reorganized its sales, marketing and product
development staff. At that time, it posted an operating loss of $700,000,
or 4 cents per share, for the fourth quarter, a figure which excluded a
$26.7 million gain from the sale of its interest in Palm Trademark Holding Co.
to palmOne Inc., the former name of Palm Inc.
Still, more than 45 companies worldwide, including Palm, SonyCorp.,
Samsung Electronics Co., and China's Lenovo Group Ltd.,
havelicensed PalmSource software.
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