Phone Scoop

printed July 1, 2015
See this page online at:

Home  ›  News  ›

Palm Sells 25% Stake to Private Firm

Article Comments  11  

Jun 4, 2007, 8:18 AM   by (staff)

Less than a week after releasing the Foleo Treo companion device, Palm announced that it has sold 25% of the company to a private equity firm, Elevation Partners. Elevation paid $325 million for its quarter share of Palm, which is reorganizing itself in an attempt to strengthen the business. As part of the restructure, Palm is bringing in Jon Rubinstein as executive chairman to help manage the company. Rubinstein formerly ran Apple's iPod division. Also as part of the deal, Fred Anderson, Apple's former CFO, and Roger McNamee, a co-founder of Silver Lake Partners, will join the board. Palm will pay a $940 million dividend to shareholders, which breaks down to $9 per share. U2's Bono is one of the founders and investors of Elevation Partners.

more info at New York Times »
more info at Palm »



Forum Options

This forum is closed.

Subject Author Date
Why pay a dividend now? katrina Jun 4, 2007, 12:10 PM
Page  1  of 1

This forum is closed.

Subscribe to Phone Scoop News with RSS Follow @phonescoop on Twitter Phone Scoop on Facebook Subscribe to Phone Scoop on YouTube Follow on Instagram


All content Copyright 2001-2015 Phone Factor, LLC. All Rights Reserved.
Content on this site may not be copied or republished without formal permission.