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Palm to get Private Equity Investment
Jun 4 2007, 4:00am CDT | by Luigi Lugmayr
The Wall Street Journal reports that Palm is selling a 25% stake private-equity investor Elevation Partners.
Under the deal Elevation Partners will invest $325 million for a 25% share of Palm.
Palm just announced last week a new product called the Foleo.
Jon Rubinstein, Apple's former head of hardware who helped pioneer the iPod, is supposed to join Palm as executive chairman and head up product development.
More details on the WSJ.
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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.
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