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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