Japan's Access said Friday it will buy out PalmSource for $324 million.
The Japanese software group will be acquiring the maker of the Palm operating system that once revolutionized the personal digital assistant market. Sunnyvale, Calif.-based PalmSource will become a wholly owned subsidiary of the Japanese company as Access will offer $18.50 for each share of PalmSource's common stock. PalmSource's stock closed at $10.09 on the Nasdaq Thursday.
In a news release, PalmSource's interim chief executive said, "We believe the customer and technology synergies of the combined companies will open up new market opportunities for both companies worldwide."
Copyright 2005 by United Press International
