[CoMoDev] PalmSource Purchased by Japanese

  • From: "Mark Moss" <markmoss@xxxxxxxxxxxx>
  • To: <comodev@xxxxxxxxxxxxx>
  • Date: Mon, 12 Sep 2005 11:12:13 -0600


        Here is a BIG FYI

Mark Moss

            Japanese Browser Maker to Acquire PalmSource 
            By Edward J. Correia 
            PalmSource stock went soaring on Thursday with the news that the 
company, which develops the Palm OS, had agreed to be acquired by Access 
Company Ltd., a Japanese developer of mobile content delivery and Internet 
access software. In an all-cash deal valued at US$324.3 million, Access will 
pay $18.50 per share of PalmSource stock, which had been trading at around $10. 
            The ink was barely dry on a deal PalmSource made late last year to 
acquire China MobileSoft, a maker of Linux-based smart phones; its mLinux 
software would form the basis for all future versions of the Palm OS, the 
company said this summer. 

            According to Access CEO Toru Arakawa, it was that acquisition, 
along with the Palm OS-based mobile applications and developer community, that 
made PalmSource attractive for takeover. "The acquisition of China MobileSoft 
provides a foundation to promote Linux-based devices," he said in a statement, 
in which he referred to PalmSource software as "an established worldwide 
platform." Palm OS reportedly is used in more than 39 million devices and 
boasts a developer community of greater than 400,000. 

            The deal is expected to close by the end of this year; neither 
company could be reached for comment.

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