Palm, Inc. announced today that it plans to split into three companies later this year. This marks the latest chapter in Palm’s volatile history, which has been as much a tale of business acquisitions, defections and spin-offs as handheld technology.
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Palm, Inc. has sold 1.2 million shares of its common stock in order to raise $18 million. They were sold at $15 per share, which is slightly below the price the stock has been selling for lately. Palm had approximately 29.3 million shares outstanding as of July 25, 2003.
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PalmSource has posted on its developer web site an early version of Palm OS 5.3, which adds support for an API for dynamic input areas, QVGA, and Simplified Chinese.
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A security patch for the Zire 71 and Tungsten T2 has been released. All users of these handheld models who use the password protection or autolock feature should download and install the patch. The installation instructions and the patch are available on the palmOne web site.
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