PalmSource sold to Access for $324.3M

PalmSource, the company that develops the Palm OS for mobile devices has been sold to Access for the equivalent of $18.50 per share, an 83% premium over the $10.09 price of Sept 8th. Even though Palm says that they will continue to use Palm OS, it is obvious that they will also embrace other platforms. Leaving the Palm OS legacy behind is a smart move in the short term, but the new hardware-only Palm will have to compete with Taiwanese companies such as HTC without having the advantage of controlling the software side and therefore leaving the initiative to other players who will control the platform, such as Microsoft. In the end, it was bound to happen as PalmSource had real issues to make Palm OS evolve. I just did not think that this would come so quickly. (Press Release)