Palm Sets Meeting for Spin-off and Acquisition

Posted By: Ryan Tuesday, September 30, 2003 9:52:12 AM

Palm, Inc. today announced that its annual meeting of stockholders will be held on Oct. 28. The key focus of the meeting will be to vote to approve and adopt an agreement plans for the distribution of Palm's shares of PalmSource common stock to Palm's stockholders as well as the acquisition of Handspring.

Palm stockholders at the close of business on Sept. 23, 2003, will be entitled to vote on the proposal. Palm also announced that the Securities and Exchange Commission on Friday, Sept. 26, declared effective Palm's registration statement on Form S-4. That form includes the proxy statement that will be mailed to Palm stockholders related to the annual meeting. The Palm Inc Annual Report (10-K) for the fiscal year 2003 is also now available.

The meeting will be held at 8 a.m. PST on Tuesday, Oct. 28, at Palm headquarters (Building 10), 580 N. McCarthy Blvd., Milpitas, Calif., 95035.

Handspring Acquisition
The Handspring merger is designed to create a stronger market leader in mobile computing and communications. The combination will put the Palm Solutions Group in a better position to pursue its objectives of growing the market, maintaining industry leadership and achieving profitability

The Boards of Palm Inc and Handspring announced in June that they each have unanimously approved a definitive agreement for Palm to acquire Handspring to form a new, stronger market leader in mobile computing and communications. Immediately following the completion of the PalmSource spin-off, Handspring will be merged with Palm, and the merged company will be called palmOne. The transaction, encompassing the spin-off of PalmSource and the merger of Handspring with the remaining Palm Solutions Group of Palm, is expected to close in the fall.

The merged company will be led by Bradley, who will continue as president and chief executive officer, and will be structured around two business units: handheld computing solutions, led by Ken Wirt, currently senior vice president, sales and marketing, for Palm Solutions; and smartphone solutions, to be led by Ed Colligan, current president and chief operating officer for Handspring. Jeff Hawkins, Handspring chairman and chief product officer, will become chief technology officer for the merged company.

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Other shoe drops

RhinoSteve @ 9/30/2003 4:12:16 PM #

Sounds good. Anywhere on the net we can read the specifics of the filing with the SEC?

RE: Other shoe drops

mes700 @ 9/30/2003 4:38:23 PM #

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=palm&script=1900

RE: Other shoe drops

mes700 @ 9/30/2003 4:39:42 PM #

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=palm&script=1900

You can use the above link to sign up for email alerts in several areas, including SEC filings. There are links in the alerts that take you directly to the filings.

RE: Other shoe drops

Ba-gug @ 9/30/2003 5:05:58 PM #

Does this mean that the man (Jeff) who started it all will be bacK at Palm in one fashion or another?

My other car is a Volkswagen too!

RE: Other shoe drops

mikecane @ 9/30/2003 5:24:54 PM #

>>>Does this mean that the man (Jeff) who started it all will be bacK at Palm in one fashion or another?

It was previously reported that he will be Chief Technologist or somesuch at PalmOne.

RE: Other shoe drops

ozz @ 9/30/2003 6:13:19 PM #

Jeff Hawkings' title is Chief Technology Officer

_________________________
Lord, help me become the person my dog thinks I am!

Where's the beef!

Hazniet @ 9/30/2003 9:42:28 PM #

It's the eve of one of the most anticipated palm os devices ever created, yet one would never know looking at the front page of palm infocenter. All around the internet are comments, discussions, and pictures of the palmone T3, but there is nothing here.

Palm infocenter used to be my 1 and only source for palm news. Now I have to go to 4 other sites just to make sure I'm not missing anything. I'd prefer staying with only 1 source, but for the past 6 months palm infocenter has dropped the ball.

Give me the info I crave!

________________________________________
If you feel like you're under control, you're just not going fast enough.

RE: Where's the beef!

KRamsauer @ 9/30/2003 10:52:48 PM #

http://www.palminfocenter.com/view_story.asp?ID=5865

Check the links at the bottom of that page too. PIC was on this early.

PalmSource Resources

LiveFaith @ 10/2/2003 5:11:01 PM #

PalmSource has been reported recently as working on a Palm OS Smartphone edition. Someone asked a good question if the "one-handed" functionality of the Treo 600 would become posession & foundation of PalmSource phone edition? From reviews the Treo 600 sounds very intuitive in it's enhancements.

According to this report PalmOne & PalmSource will be split before Handspring is acquired. If this sequence is correct, then PalmSource would have to "negotiate $" for these APIs. Is this correct? Is the trade already made or will PalmSource re-invent the wheel?

Pat Horne; www.churchoflivingfaith.com

RE: PalmSource Resources

Admin @ 10/2/2003 5:35:14 PM #

I'm not 100% positive but I remember reading somewhere that someone at PalmSource already stated they would incorporate Handsprings "one-handed" API into the Palm OS.