Monday, February 6, 2006

Palm should sell out

A major investor in Palm <A HREF="http://news.zdnet.com/2100-9584_22-6035153.html?tag=zdnn.alert">called on the company to seek a buyer</A> among the large IT companies of the world, arguing that competitive pressures will lead to tough times for the Treo seller. Mark Nelson, the founder and former CEO of Ovid Technologies, owns 8 percent of Palm's stock, according to a filing with the Securities and Exchange Commission. In a letter to Palm's board of directors, Nelson urged Palm to consider selling its business to a company like Research in Motion, Dell, or Hewlett-Packard while its fortunes are still on the rise. Palm is in the midst of breaking away from the PDAs (personal digital assistants) that launched it to prominence in the 1990s. With sales of those devices plummeting, Palm and the rest of the PDA industry has embraced smartphones that combine the contacts, calendars and applications of a PDA with the ability to make voice calls and access data over the Internet. Palm's Treo devices have attracted a significant following within the U.S.

News Timeline



From Our Sponsor