October 29, 2003
PalmSource Spins Out From Palm, Inc.
PalmSource, Inc., provider of Palm OS, a leading operating system powering next generation mobile devices and smartphones, today announced its spin out from Palm, Inc. The spin out will be effective today at 11:59 p.m. EST. In a major milestone for the company, PalmSource, Inc. is one of the first publicly traded companies focusing on operating system software for smart mobile devices.
The spin out of PalmSource is expected to drive the following benefits:
-- Potential to increase the number of licensees of Palm OS;
-- Increase the competitiveness of Palm OS
-- Increase the responsiveness of Palm OS to technology change and
customer needs;
-- Sharpen focus on PalmSource's businesses and strategic opportunities,
and
-- Allow direct access to capital markets.
My spin: With this new move, PalmSource can now concentrate completely on serving the needs of its hardware partners - including PalmOne.
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