Palm Gets Its Own Bailout; Is It Enough?

Iria · Dec 23, 2008, 01:01 AM

Palm has been struggling to stay afloat until its soon-to-be-announced (at CES) Nova OS is released, but it's been burning through cash as rivals such as the iPhone and BlackBerry continue to take market share. But on Monday Palm received its own bailout, as Elevation Partners, which took a 25% stake in Palm in 2007, bought $100 million in preferred stock in the beleaguered company.
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Source: Tech-Ex

Dec 23, 2008, 01:01 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Palm Gets Its Own Bailout; Is It Enough? Palm has been struggling to stay afloat until its soon-to-be-announced (at CES) Nova OS is released, but it's been burning through cash as rivals such as the iPhone and BlackBerry continue to take market share. But on Monday Palm received its own bailout, as Elevation Partners, which took a 25% stake in Palm in 2007, bought $100 million in preferred stock in the beleaguered company. _______________ Source: Tech-Ex