Tokyo Firm to Acquire PalmSource
Los Angeles Times, September 10, 2005
PalmSource Inc., maker of the Palm operating system for hand-held computers, said Friday it had agreed to be acquired by Japanese software company Access Co. for $324 million....
..."This was really dumb," said Needham & Co. stock analyst Charles Wolf. Access is "paying that kind of money for a company with no real profits and one product. I'm stunned."
Tokyo-based Access agreed to pay $18.50 for each share of PalmSource common stock, an 83% premium to the stock's Thursday closing price of $10.09. ...more...
