Tuesday, June 05, 2007

Palm adds partner to face competition - The Boston Globe

Still a bit perplexing to me, as is the rumored Avaya deal. 

Faced with mounting competition in the smart-phone market, Palm Inc. is selling a quarter of its company to a private equity firm to arm itself with new leadership, most notably the former technical guru behind the iPod.

The deal with Elevation Partners -- which agreed to invest $325 million for a 25 percent stake in Palm -- will bring new talent to the handheld computer pioneer as it battles stiffening competition that will only get tougher with Apple Inc.'s June 29 launch of the iPhone.

Palm adds partner to face competition - The Boston Globe

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