Sony Corp. agreed to invest $20 million Tuesday in Palm Inc.'s software division, which the handheld computer maker plans to spin off next year.
In addition to the minority equity investment, Sony also agreed to widen its technical and business collaboration with Palm.
As a result of the deal, Sony now owns a 6 percent stake in PalmSource, Palm's software unit.
Palm already has internally separated PalmSource. Next year, the separation will become external, with existing Palm shareholders receiving shares in the new division.
Earlier this month, Sony unveiled an updated model of its Clie handheld, which runs on the Palm Operating system. Among other features, it records video, plays music and browses the Internet via a wireless connection.
Shares of Palm gained 6 cents to close Tuesday at 67 cents on the Nasdaq Stock Market.
Copyright © 2002 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.
|
10 Challenges That HP Wants Partners To Tackle Right Now CRN speaks with HP's business unit chiefs to get a sense of where they'd like partners to focus in the coming year, as well as how CEO Meg Whitman is making a difference. |
|
VAR500: IBM Strikes Deal With Ukraine Bank; HP Bolsters Health-Care Practice CRN VAR500 solution providers win health-care contracts, work on European banking solution, create a platform for microlending, sharing info on cloud computing and more. |
|
Five Companies That Dropped The Ball This Week For the week ending Feb. 3, CRN looks at five companies that were either asleep at the wheel or just didn't make good decisions. |
 More
Slide Shows |
- Cognizant Sales Soar, Exec Promotions Follow
- VAR500 Company EPAM Systems: IPO Update
- The Daily App: Scan To PDF Free For Android
- Appcelerator Extends Mobile App Dev Reach With Cocoafish Buy
- HP TouchPad And Other Doomed Devices: 10 Mobile Flops And Failures
- Can HP Surpass Apple With New Tablet, Smartphones?
