Palm Stayin’ Alive with $100 Million Injection

Palm’s usual mainstay for funding, Elevation Partners, has juiced them with $100 million in additional funding to get them through to 2009, while nabbing 7 million stocks at the same time. Maybe promises of the upcoming Nova OS have kept investors interested in Palm’s future, but it’s really hard to ignore the half billion they lost last quarter, or the holiday layoffs. Regardless, Palm’s CEO remains optimistic about the future.

“The additional capital from Elevation Partners will enable us to put added momentum behind the new product introductions scheduled for 2009 and will provide us with enhanced stability in unsettled economic times,” said Ed Colligan, president and chief executive officer of Palm, Inc. “Elevation has been a great partner to Palm, and we appreciate their continued confidence and support.”

[via Cellular-News]

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