Palm may have put itself on the market, but is anyone buying what it’s selling?
Not likely at its current stock price, according to an analyst at UBS. In a research note out Monday, Maynard Um downplayed the likelihood that RIM, HTC or anyone else would swoop in an offer top dollar to acquire Palm, a firm whose chief assets are seen as its intellectual property.
In the meantime, Palm is doing what it can to keep its top talent from jumping ship, though the head of the software and services division has already resigned.
Enterprise Mobile Today weighs Palm’s prospects.
Palm is unlikely to find a buyer at its current stock price and probably has none on the horizon due to recent activity in its executive ranks and the loss of a retailer, said analysts from UBS AG and Morgan Keegan & Co.
That executive activity includes the resignation of Senior Vice President Michael Abbott, who served as head of software and services and led the development of the WebOS app platform and services.
It also involves implementing a compensation program to keep any more key executives from resigning. Palm has issued 1.15 million in restricted shares and $250,000 in cash bonuses to Jeff Devine, senior vice president of global operations, and CFO Doug Jeffries.