PalmSource Future Brightened by Buyout
9th Sep 2005, 21:35 GMT
PalmSource, the mobile software maker that has seen its share of the hand-held market eroded by smartphones and other competitors, has agreed to be purchased by a Japanese software firm in a deal worth about US$324 million. Access, best known as the maker of the NetFront mobile device Web browser, said it had reached a deal to buy the makers of the Palm OS and that it would seek to expand its menu of offerings for powering hand-held devices. The sale price of $18.50 per share represents a sizeable 83 percent premium for PalmSource shareholders.
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