Featured Articles

Nvidia Shield 2 shows up in AnTuTu

Nvidia Shield 2 shows up in AnTuTu

Nvidia’s original Shield console launched last summer to mixed reviews. It went on sale in the US and so far Nvidia…

More...
AMD CSO John Byrne talks ARM

AMD CSO John Byrne talks ARM

We had a chance to talk about AMD’s upcoming products with John Byrne, Chief Sales Officer, AMD. We covered a number…

More...
AMD Chief Sales Officer thinks GPU leadership is critical

AMD Chief Sales Officer thinks GPU leadership is critical

We had a chance to talk to John Byrne who spent the last two years as Senior Vice President and Chief…

More...
OpenPlus One $299 5.5-inch Full HD phone

OpenPlus One $299 5.5-inch Full HD phone

OnePlus is one of the few small companies that might disrupt the Android phone market, dominated by giant outfits like Samsung.…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 14 September 2007 07:32

Elevation Partners invests $325 million into Palm

Written by David Stellmack

Image

Transaction approved by stockholders


 

Venture capital firm Elevation Partners will invest $325 million into Palm, Inc. giving them a 25% equity stake in Palm. The deal has been approved by the stockholders.  Palm CEO Ed Colligans said, “We appreciate our stockholders' strong support of these proposals and look forward to an era of renewed innovation and focused execution at Palm.”

As part of the deal Palm is appointing Jon Rubinstein as Executive Chairman of the Board of Directors. In addition, Roger McNamee and Fred Anderson from Elevation Partners will also join the Palm Board of Directors. Jon Rubinstein is best known for leading the effort and teams within Apple, Inc. that created the first iPod.

The addition of Rubinstein could be key in turning around Palm, a company that still has a great name in the marketplace, but has had difficulty in breaking out beyond the Treo smart phone. Rubinstein’s experience in the development of both the iMac and iPod will at the very least bring some much needed new ideas to the table, which could in turn leave to Palm building something new that goes beyond what they have been able to achieve with the Treo.

After killing the Foleo product last week, Palm needs to quickly come up with something that is able to capture the attention of the market.  Palm is in serious danger of getting pushed out of the smart phone market space by Blackberry, as well as a variety of Windows CE phone devices. Elevation Partners must see something in Palm for them to come in and invest this type of money.

With all of the floundering in both OS and product development, a return to a focused perspective coupled with some creative innovation will be necessary if Palm wants to return the company back to its former glory and to recapture some of the lost market share.

Last modified on Friday, 14 September 2007 10:13

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments