PalmSource bought by ACCESS
Big news about my old employer:
[12:09] <Adam> Palm is turning Japanese they’re really turning Japanese I really think so.
From Reuters:
TOKYO, Sept 9 (Reuters) – Japanese software developer Access Co. said on Friday it would make U.S. software developer PalmSource Inc. wholly owned in a 34.4 billion yen ($311.3 million) cash deal to strengthen its development of software for handheld devices.
Access will pay cash to shareholders of PalmSource, which will be later absorbed by Access’ U.S. unit Apollo Merger Sub Inc., Access said in a statement.
“We expect the acquisition of PalmSource to help strengthen our capability to develop software for handheld devices,” Access said.
PalmSource makes the “Palm” operating system software used in devices made by PalmOne and other manufacturers.
The company, however, has been struggling to win new licensees for its software in the face of increased competition from Microsoft Corp. and announced in June restructuring including a 16 percent cut in its workforce. ($1=110.49 yen)
Links: Press release, PalmInfocenter.