Palm sells 25 percent stake to Elevation for $325M — Apple ghost follows
Palm Inc., the smart-phone maker, will reportedly sell a 25 percent stake to a private equity firm Elevation Partners, of Silicon Valley, for $325 million.
The move, reported by the WSJ, comes after two years of a sideways trading stock (see chart below), a recognition that Palm faces ever increasing competition, and indecision about what strategy it should pursue.
It also comes after a former employee of Palm, Gibu Thomas, argued in a column at VentureBeat recently… Continue Reading