Elevation Statement on Palm Progress
As a result of the highly speculative analyst report yesterday that postulated that Elevation may be looking to divest itself of its Palm investment, Elevation Partners co-founder and Palm Board member Roger McNanmee, has released a statement reasserting their position. In short, Mr. McNammee states that Elevation remains quite excited about Palm's progress and next generation operating system and they have no plans back out of their Palm investment. The statement in full reads:
"Elevation Partners is very pleased with the progress Ed Colligan, Jon Rubinstein and the entire Palm team are making. The Company's product pipeline, including a next generation operating system due out soon and a new device targeted for the first half of 2009, excite us enormously. Elevation supports Palm in taking the difficult but necessary steps required to migrate from legacy products. We have a very long-term investment horizon and have no plans to exit our investment in Palm."
Thanks to Tech Trader Daily for the tip.
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