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Palm Moves One Step Closer to Closing Handspring Acquisition
Posted: 08-Aug-2003 [Source: Palm]

[The Palm/Handspring aquisition vote is expected this fall.]

Milpitas and Mountain View, Calif. -- Palm, Inc. (Nasdaq: PALM) and Handspring, Inc. (Nasdaq: HAND) today announced that the waiting period required by the Hart-Scott-Rodino Anti-Trust Improvements Act for Palm's proposed acquisition of Handspring has expired. The acquisition is expected to close in the fall, subject to certain conditions, including approval from both companies' stockholders.

"Passing the HSR waiting period moves us another step toward delivering what we believe is the broadest portfolio of mobile computing and communications solutions from the most-experienced leadership team in the industry," said Todd Bradley, Palm Solutions' president and chief executive officer. Bradley will lead the company that will result from Palm's acquisition of Handspring.

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