Palm to Acquire WeSync
Palm, Inc. just announced it will buy WeSync, a provider of group information-sharing software for Palm handhelds. Palm intends to use WeSync's talent and intellectual property to improve both their wireless and wired synchonization offerings. Palm will pay WeSync $40 to $45 million in cash or stock, depending on circumstances at the time of closing.
"The Internet is increasingly going mobile, and people are just discovering the value of up-to-the minute, real-time information on the go,'' said Alan Kessler, Palm's chief operating officer. "Wireless synchronization of information such as calendars, contact lists and corporate information is a huge growth area, and the acquisition of WeSync will give Palm an arsenal of talent and resources to apply to its platform and speed great products and services to market.''
In the short term, WeSync web properties and the capabilities they offer will be integrated into the AnyDay web calendaring service.
Longer term, the combined engineering talent will give Palm customers more capabilities around N-way, wireless and web synchronization. Palm will integrate these technologies -- including a synchronization protocol optimized to share information wirelessly -- into the Palm platform in a technically elegant and robust way. As a result, Palm will be able to deliver new classes of workgroup applications.
The acquisition is expected to close within Palm's third fiscal quarter, following satisfaction or waiver of customary conditions to close, including without limitation, approval from WeSync's shareholders.
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