Disqus
Private equity firm, Elevation Partners, will pay $325 million in cash for a 25 percent stake in the company and Palm will pay a special distribution of $9 a share,or about $940 million in cash to shareholders for their reduction in ownership. Jonathan Rubinstein, the former head of the iPod division at Apple and creator of the first iMac will be the new executive chairman. Hopefully this guy can make something amazing happen.
[Via: NY Times]
About The Author
Stefan Constantinescu
Stefan Constantinescu (@WhatTheBit on Twitter) has loved technology since as far back as he can remember. It started with computers, but in the past few years his passion has turned to mobile devices. As a mobile phone enthusiast who lives and breathes devices that connect to the internet, he knows he is not alone with this radical fascination of all things wireless. He is strongly opinionated and enjoys a good debate so leave comments in his posts and he’ll get back to you! Stefan began blogging as a hobby in the fall of 2006 and joined IntoMobile in the summer of 2007. Later he got a job at Nokia in March 2008, but as of June 2009 he has rejoined the IntoMobile team. He is currently based out of Helsinki, Finland.
