CITATION(Palminfocenter)
PalmSource Secures $20 Million Investment From Sony
PalmSource Inc, announced that it has received a $20 million minority equity investment by Sony Corporation that will result in its ownership of about a six percent share of PalmSource. This investment, combined with expanded business and technical collaboration agreements enhances both companies' strategic commitment to grow the Palm Economy.
Sony has been a Palm OS licensee since 1999, and with the introduction of its CLIE personal entertainment organizer product line, has brought to market some of the most innovative and successful Palm Powered products.
In addition to the investment, Sony will expand its business and technical collaboration with PalmSource. This marks significant progress toward Palm Inc's plan to create two independent companies.
"Sony's expanded commitment to the Palm Economy illustrates the stimulating value that an independent PalmSource will have on the handheld industry," said Eric Benhamou, chairman and chief executive officer of Palm Inc. "We remain driven to complete the external separation of our PalmSource subsidiary on an aggressive timetable."
"The CLIE entertainment handheld with the Palm OS platform is a key product for the broadband era, through which users can enjoy a wide variety of content and services easily, anywhere, anytime. Our ongoing cooperative relationship with PalmSource will also advance the evolution of the Palm Economy," said Keiji Kimura, Corporate Senior Vice President of Sony Corporation and NC President of Sony Corporation Mobile Network Company.
"Sony's products stand for innovation and high quality worldwide," said David Nagel, president and chief executive officer of PalmSource, Inc. "We are delighted that Sony has chosen Palm OS as the platform for its handheld computing products and look forward to continued innovation and leadership resulting from this relationship."
PalmSource Inc, announced that it has received a $20 million minority equity investment by Sony Corporation that will result in its ownership of about a six percent share of PalmSource. This investment, combined with expanded business and technical collaboration agreements enhances both companies' strategic commitment to grow the Palm Economy.
Sony has been a Palm OS licensee since 1999, and with the introduction of its CLIE personal entertainment organizer product line, has brought to market some of the most innovative and successful Palm Powered products.
In addition to the investment, Sony will expand its business and technical collaboration with PalmSource. This marks significant progress toward Palm Inc's plan to create two independent companies.
"Sony's expanded commitment to the Palm Economy illustrates the stimulating value that an independent PalmSource will have on the handheld industry," said Eric Benhamou, chairman and chief executive officer of Palm Inc. "We remain driven to complete the external separation of our PalmSource subsidiary on an aggressive timetable."
"The CLIE entertainment handheld with the Palm OS platform is a key product for the broadband era, through which users can enjoy a wide variety of content and services easily, anywhere, anytime. Our ongoing cooperative relationship with PalmSource will also advance the evolution of the Palm Economy," said Keiji Kimura, Corporate Senior Vice President of Sony Corporation and NC President of Sony Corporation Mobile Network Company.
"Sony's products stand for innovation and high quality worldwide," said David Nagel, president and chief executive officer of PalmSource, Inc. "We are delighted that Sony has chosen Palm OS as the platform for its handheld computing products and look forward to continued innovation and leadership resulting from this relationship."
