|Motorola Takes Equity Stake in 3Com's Palm Computing|
Posted: 14-Dec-1999 [Source: BUSINESS WIRE]
[Motorola agrees to take minority stake in Palm Computing and expects to license the Palm OS for use in Motorola products.]
SCHAUMBURG, Ill. -- "Motorola, Inc.
(NYSE:MOT), a leading provider of integrated communications and
embedded electronic solutions, today announced that it has signed
a Memorandum of Understanding (MOU) with Palm Computing, Inc., a
leading provider of handheld computing solutions. Under the terms
of the MOU, Motorola expects to license the Palm operating system
for use in Motorola products. Additionally, Motorola has taken a
minority equity stake in Palm Computing, a wholly-owned subsidiary
of 3Com Corporation.
"We see a whole new category of wireless devices emerging that
combine popular PDA platforms with wireless communications," said
Merle Gilmore, president of Motorola's Communications Enterprise.
"By combining the widespread appeal of the Palm operating system
with the exploding demand for wireless communications, we will be
able to provide people with the personal networking capabilities
they want and need."
"The Palm Computing initiative is part of Motorola's overall
strategy to deliver wireless Internet solutions designed for use
at home, work, play or anywhere in between. This development comes
one year after Motorola became a shareholder in the Symbian joint
venture, which promotes the EPOC operating system for wireless
information devices. Motorola remains committed to the Symbian
alliance, and is working with both Symbian and Palm to provide the
leading platforms customers demand.
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