October 08, 2005
Motorola Wants PalmSource to Pay Up
According to the Chicago Times, Motorola was also a bidder for PalmSource. Motorola contends they are due a $8.7M breakup fee because PalmSource actually accepted their $17.25 share bid and then reneged days later. I'm a bit disappointed that both Palm and Motorola lost the bidding war. It would of been nice for a U.S. based company to take the lead in operating systems for smartphones. Who knows what this Japanese company that actually won the bid will do in the future? The prospect of a Palm-based RAZR phone looks like only a dream now.Motorola has asked a judge to award it an $8.7 million breakup fee from PalmSource, which Motorola said reneged on a $17.25-per-share buyout agreement last month.
