Friday, May 18, 2001

Extended deal terminated

Palm, Inc. and Extended Systems Inc. announced that they have mutually and amicably agreed to terminate their proposed merger agreement for Palm to acquire Extended Systems without payment of any termination fee. A proposed acquisition was announced March 6 and was expected to close in June. The slowing economy and market conditions led both companies to conclude that a termination of merger plans would best serve both companies and their respective shareholders.

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