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October 29, 2003
Handspring, Palm One
It's official... Shareholders have approved Palm's spinoff of its PalmSource operating system unit, and the acquisition of Handspring by its palmOne hardware unit.
PalmOne will be helmed by Todd Bradley, currently leading the Palm Solutions Group. Its Handheld Computing Solutions group will be led by Ken Wirt, currently a senior VP for Palm Solutions, and its Smart Phone Solutions group will be led by Ed Colligan, currently Handspring President.
Jeff Hawkins, founder of Palm and currently Handspring's Chairman and Chief Product Officer, will be Chief Technology Officer for palmOne. Donna Dubinsky, Handspring CEO, joins palmOne's board of directors.
Under the stock swap formula put together earlier this year, Handspring's shareholders would own 32.2 per cent of the new company, and Palm's shareholders would own 67.8 percent.
Officials hope the new focus brought about by the PalmSource spinoff and Handspring acquisition will help it stay ahead of rivals in a shrinking market.
Posted by Sam in Industry
and Mobile & PDAs
and Phones