MobileRead Forums - View Single Post - PalmSource acquired by Japan's Access as of today

Colin Dunstan · 11-15-2005, 06:21 AM

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.

11-15-2005, 06:21 AM	#1
Colin Dunstan Is papyrophobic! Posts: 1,926 Karma: 1009999 Join Date: Aug 2003 Location: USA Device: Dell Axim	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.