PalmSource appoints new chairman
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PalmSource, a maker of software for mobile devices, named Jean-Louis Gassee as its chairman on Tuesday. Gassee, a general partner with venture capital firm Allegis Capital, was previously the president and CEO of Computer Access Technology and of Be.
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Palm OS developer PalmSource is building a version of its platform for Linux-based phones in order to compete more effectively in the global handset market.
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This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half. PalmSource said on Tuesday that it is releasing the e-mail application interface needed
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Looking to compete with the likes of Symbian and Microsoft, PalmSource is unveiling its new operating system geared specifically for the creation of smartphones.
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PalmSource is to focus on wireless devices with its new version of Palm OS, but can it succeed against the likes of Microsoft and Symbian?
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PalmSource is set to announce its first operat- ing system for smart phones, with applications typically found on desktop computers.
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(InfoWorld) - Palm Inc.'s financial future looked a little more secure Monday as private-equity firm Elevation Partners said it will pump US$325 million into the mobile device manufacturer. In recent months, rumors have swirled that Palm would beÂ acquired by either Motorola Inc. or Nokia Corp. as theÂ company faces increasingly aggressive competitionÂ in the smartphone market. The recapitalization plan followsÂ months of rumorsÂ that Palm was seeking a buyer, or help from the banking community to fuel a turnaround. The deal has Elevation taking a 25 percent equity stake in Palm, valuing the company at $8.50 per share, a premium of around 16 percent compared with the stock's performance over the last 10 trading days. Elevation is a $1.9 billion private-equity firm and one of its five partners is Bono, the lead singer of Irish rock band U2. The investment in Palm is by far the largest the firm has ever made. The device maker has also secured $400 million and a $40 million revolving credit facility. Palm will use the proceeds from the sale of its stock and the proceeds from the new debt to fund a $9 per share cash distribution to its shareholders, excluding Elevation. The total amount of money shareholders will receive will be around $940 million. Palm expects the move will leave it with more than $300 million of cash on its balance sheet. Subject to shareholder approval and other closing conditions, Palm expects to complete the recapitalization in the third quarter of this calendar year. Once the deal closes, there will also be changes in Palm's board of directors. Jon Rubinstein, Apple Inc.'s former vice president of hardware engineering and head of its iPod division, will become executive chairman of Palm's board. He will also head up Palm's product development efforts. Besides helping create the iPod music player, Rubinstein had a hand in building the iMac computer. He's seen as instrumental in Apple's successful turnaround, responsible for revamping the company's engineering teams, product road maps and manufacturing processes. Current Chairman Eric Benhamou and board member D. Scott Mercer will resign from Palm's board and will be replaced by Rubinstein along with Fred Anderson and Roger McNamee, managing directors and co-founders of Elevation. Palm will increase the size of its board from eight to nine members. Anderson was Apple's chief financial officer from 1996 to 2004 and McNamee is a long-time venture capitalist. The transaction means that Palm will strengthen its leadership team and "create a more effective capital structure," putting it in "a great position to attract new talent, significantly strengthen our execution capabilities, and deliver long-term shareholder value," Ed Colligan, Palm president and CEO, said in a statement. Along with its handheld devices and Treo smartphones, Palm last weekÂ debuted a handheld computer called Foleo, which it calls a smartphone companion device.
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PalmSource Inc. has finally answered the smart-phone call. The maker of Palm operating systems for handheld computers plans to introduce Tuesday its first version designed specifically for so-called smart phones.
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PARIS On Tuesday, PalmSource, the maker of the Palm operating system for hand-held devices, is scheduled to announce its first operating system designed specifically for smart phones, mobile phones that allow you to not only make voice calls but also use
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PalmSource has introduced Palm OS Cobalt 6.1, an enhanced version of Palm OS Cobalt. Designed to accelerate the development of next-generation Palm Powered smartphones and wireless devices, Palm OS Cobalt
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SUNNYVALE, Calif., Oct. 20 /PRNewswire-FirstCall/ -- PalmSource, Inc. provider of Palm OS(R), a leading operating system powering next-generation mobile devices and smartphones, today announced its second
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Taiwanese PC maker Acer on Wednesday laid out its new executive structure, appointing a European executive as president as it prepares for the retirement of founder Stan Shih.
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PalmSource Inc., which makes operating systems for handheld computers, will introduce today its first product designed specifically for smart phones.
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The PalmSource chief financial officer jumps ship. Does that mean it's sinking?
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SUNNYVALE, Calif. - Smartphone maker Palm Inc. will sell a 25 percent stake to private equity firm Elevation Partners for $325 million, the company said Monday, and announced that the former technical guru behind the iPod will become chairman.
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PalmSource has bought mobile phone software developer China MobileSoft with a view to developing a version of Palm OS Cobalt that will run on Linux in mobile devices.
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PalmSource with its popular product PalmOS plans on producing a new, Linux-based version of their handheld operating system. The move towards Linux-based Operation System for mobile &amp; handheld devices is supposed