Palm Not Going to Buy Psion

Despite recent rumors to the contrary, when asked if his company was considering buying Psion, Palm COO Alan Kessler told CNBC, "No is the answer to that question". CNBC then asked if they had looked over Psion's financial performance with a view to a takeover, he said, "absolutely we haven't". Palm's usual answer to questions of this type is "no comment" so the company is clearly sending a signal that they haven't the slightest interest in Psion.

The rumor of a takeover was based partially on the fact that Psion is the majority shareholder of Symbian and Palm is also rumored to be considering basing OS 5 on the Symbian OS.

Psion shares took a big hit on Monday when Motorola announced that it had pulled out of a key collaboration with them to create smartphones.

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