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TAKEOVER: Access to buy Palm
Posted by Arne Hess - on Friday, 09.09.05 - 18:36:56 CET under 01 - General News - Viewed 10210x
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Japanese software developer Access (most Pocket PC users might know their NetFront web browser for Pocket PCs while most i-mode mobile phones also uses Access' browser technology) on Friday said it would buy handheld computer software maker PalmSource for about 324 million US$ in cash, in a deal that strengthens Access' roster of products for mobile phones.

Access said it would offer 18.50 US$ per share, an 83 percent premium to Thursday's Nasdaq closing price of PalmSource, the maker of the popular "Palm" operating system.

"The combination of Palm OS with Access' software products is expected to give Access one of the broadest lines of mobile software in the industry," the Japanese company said in a statement.

The deal appeared to receive the blessing of Palm, PalmSource's biggest customer and maker of the Treo. As you might remember, Palm and PalmSource were one company until 2003 when they split in hopes of unlocking each company's individual value.

"Palm's expertise, combined with Access' leading software development capabilities, will allow us to continue to deliver great products," Ed Colligan, Palm's chief executive officer, said in a statement. "Access is currently a software technology partner and we look forward to continuing our strong working relationship to advance the Palm OS platform."

With the acquisition, Access will also gain Linux development resources for mobile devices in the United States, France and China.

This acquisition also ends previous speculations, Palm might acquire PalmSource.

Cheers ~ Arne

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