Access buys PalmSource

Sep 09 2005 - 10:04 AM ET | Palm

Japanese firm Access has announced a buyout of PalmSource (maker of the PalmOS). PalmSource has been in hard times recently, especially after rumors of a Windows Mobile powered Treo. Recently PalmSource bet the farm on Linux, though the first results of that move have yet to launch.

Access paid a hefty 83% premium for PalmSource [PSRC], or $324 million. It's an all cash deal.

By combining ACCESS' robust NetFront browser platform and its proven business relationships with PalmSource's advanced operating system, application portfolio, user interface and developer communities, we will be able to produce a comprehensive yet flexible solution for the mobile market.