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Old 11-15-2005, 07:21 AM   #1
Colin Dunstan
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PalmSource acquired by Japan's Access as of today

We didn't have any serious reason to believe that the PalmSource-Access deal would come off (nor did investors with PSRC stock trading at 80 percent premium), and today it's official: Japan's Access has acquired PalmSource. C|Net comments:

Finalization of the $324.3 million transaction means that PalmSource is now a wholly owned subsidiary of Access and will no longer be a separate publicly traded company. PalmSource traded on the Nasdaq under the symbol PSRC. "As a result of the acquisition, each outstanding share of PalmSource common stock has been converted automatically into the right to receive $18.50 in cash," the company said in a statement. Additional financial details were not available... Ultimately, Access said it will combine its Linux-based NetFront browser with the Palm OS version 5x--also known as Garnet. Access may even revisit the Palm OS version 6, known as Cobalt, which was not broadly licensed by PalmSource, executives have said.
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Old 11-15-2005, 07:25 AM   #2
Bob Russell
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The interesting thing about this is that it makes it more possible that we can hear more from Access about their plans any time now. More than likely the first news will be near the deadline for renaming PalmOS. Hopefully we won't see any layoffs, which is a way too common event after acquisitions.
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Old 11-15-2005, 09:27 AM   #3
Alexander Turcic
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Also interesting that it was announced only yesterday that PalmSource & Co are heading towards a standardized interface for Linux-based smartphones. They are going in the right directions for which I am hopeful!
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