Palm Puts Itself Up for Sale

Monday Apr 12th 2010 by Staff

Taiwan’s HTC Corp. and China’s Lenovo Group Ltd. are believed to be considering making offers.

Bloomberg: Unnamed sources say that Palm is working with Goldman Sachs Group Inc. and Frank Quattrone’s Qatalyst Partners to find a buyer for the company. Interested buyers may include Taiwan’s HTC Corp. and China’s Lenovo Group Ltd.

Industry watchers say that the company may be attractive to a buyer, despite its declining sales. “Palm still has quite a good brand in the U.S. market, and some strong technology, so you can do something with it,” said Hong Kong-based analyst Frank He. “The shares have gone down a lot and the company may become attractive to anyone looking for a turnaround play.”

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