Palm scouting for a buyer

By Spencer Dalziel on Apr 13, 2010 8:24 AM
Filed under Hardware

Speculation points to Lenovo and HTC.

Pioneering PDA firm Palm is looking for a buyer, according to Bloomberg.

Palm is using Goldman Sachs and Quattrone's Qatalyst Partners to help it find a potential buyer for the ailing business.

Sources said HTC and Lenovo haven't put money on the table yet but might make an offer for the company.

No one has made any official announcements on the sale of Palm but speculation is rife that talks are already underway to take it over.

Buyers would get a company that develops its own OS, PDAs and web software, but strong competition from Google and Apple has taken a big chunk of Palm's market share.

However, Palm's stock rose on word on the buyout and analyst quotes suggest there's still some meat on the bones.

"Palm still has quite a good brand in the US market, and some strong technology, so you can do something with it," said Frank He, technology analyst at BOC International Holdings.

"The shares have gone down a lot and the company may become attractive to anyone looking for a turnaround play," he added.

 
Follow us on Facebook and Twitter
 

theinquirer.net (c) 2010 Incisive Media

Promo

Palm scouting for a buyer
 
 
 
 
 
Top Stories
Vocus buys 14.5% stake in Macquarie Telecom
Value of acquisitions to hit $150m in a year.
 
 
Datacom bringing 3D printers to Australian schools
Partnering with distie and software vendor Makers Empire.
 
Sign up to receive CRN email bulletins
   FOLLOW US...
Polls
Do grey market imports hurt your business?

Latest Comments
CRN Magazine

Issue: 336 | March 2015

CRN Magazine looks in-depth at the emerging issues and developments for the channel, and provides insight, analysis and strategic information to help resellers better run their businesses.