Friday, October 10, 2003

ISS recommends PalmSource spin-off

Palm announced that Institutional Shareholder Services Inc. (ISS) has evaluated the transaction Palm has put before stockholders for a vote on Oct. 28 and <A HREF="http://ir.thomsonfn.com/InvestorRelations/PubNewsStory.aspx?partner=5150&product=IR&storyid=96191">recommended stockholders approve it</A>.The transaction would result in the spin-off of PalmSource, Inc., the Palm subsidiary responsible for developing and licensing Palm OS platform for handheld computers and smartphones, and the distribution of PalmSource common stock to Palm's stockholders. The transaction also would result in the acquisition of Handspring, Inc., and the issuance of shares of Palm common stock -- immediately following the PalmSource distribution -- to Handspring stockholders. Following the spin-off of PalmSource and the acquisition of Handspring, Palm, Inc. will assume a new name, palmOne, Inc.

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