Featured Articles

Hands on: Nvidia Shield Tablet with Android 5.0

Hands on: Nvidia Shield Tablet with Android 5.0

We broke the news of Nvidia's ambitious gaming tablet plans back in May and now the Shield tablet got a bit…

More...
Nokia N1 Android tablet ships in Q1 2015

Nokia N1 Android tablet ships in Q1 2015

Nokia has announced its first Android tablet and when we say Nokia, we don’t mean Microsoft. The Nokia N1 was designed…

More...
Marvell launches octa-core 64-bit PXA1936

Marvell launches octa-core 64-bit PXA1936

Marvell is better known for its storage controllers, but the company doesn’t want to give up on the smartphone and…

More...
TSMC 16nm FinFET Plus in risk production

TSMC 16nm FinFET Plus in risk production

TSMC’s next generation 16nm process has reached an important milestone – 16nm FinFET Plus (16FF+) is now in risk production.

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 29 April 2010 11:30

Bono loses millions on Palm

Written by Nick Farell

Image

Smartphone maker heads to HP


Smug noise
merchant Bono has lost a fortune on his investment in Palm now the outfit has been sold to HP.

The celtic crooner was a major investor in Palm through his investment outfit Bono’s private equity venture, Elevation Partners. Elevation invested $460m in the struggling handset maker in 2007 and 2008. The HP deal values Palm’s equity at $961m – the rest of the deal price is debt, meaning Elevation’s stake will be worth roughly $320m.

Palm, which began life in 1992 as one of the companies at the forefront of the personal digital assistant (PDA), has struggled of late as a result of lagging sales and increasing marketing costs, downgrading sales estimates for the current quarter by more than half in March. Palm put itself up for sale earlier this month, amid speculation of offers from Lenovo of China and HTC of Taiwan.

HP said yesterday it has reached an agreement to buy Palm, as part of a concerted attempt by the world’s largest computer maker to make some form of impact in the smartphone market.

Nick Farell

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

 

Facebook activity

Latest Commented Articles

Recent Comments