Tokyo-based mobile phone OS developer Access has agreed to acquire PalmSource in a cash transaction that represents an 83 per cent premium.
Access which develops the operating system used on about 160 million mobile phones (chiefly in
The acquisition is designed to give the company a foot in the door of the burgeoning global Smartphone market.
The acquisition will give Access what it describes as ‘one of the broadest lines of mobile software in the industry’. The acquisition will give the company access to the company’s PalmOS and the Linux development centres located in the
“PalmSource is a global leader in mobile device software and the developer of the well known Palm OS operating system,” said Toru Arakawa, CEO of Access. “The PalmSource family of software products which run on over 39 million devices, and the PalmSource community of approximately 400,000 mobile application developers, provide an established worldwide mobile software platform.
“In addition, PalmSource’s earlier acquisition of China MobileSoft, a developer of Linux technology, provides the foundation to promote Linux-based platforms for mobile devices. 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.”
Ed Colligan, Palm, Inc. president and chief executive officer said, “Palm’s award-winning user experience and application expertise, combined with Access’ leading software development capabilities, will allow us to continue to deliver great products for our customers. Access is currently a software technology partner and we look forward to continuing our strong working relationship to advance the Palm OS platform.”
Already approved by the respective boards the acquisition is expected to be completed by the end of this year pending regulatory approval and the approval of PalmSource’s shareholders.