Palm may have invented the smartphone, but that isn’t accounting for much these days, as the company’s sales have slowed drastically and it finds itself in need of a buyer to stay alive. What company would buy Palm and why is unclear. All too often, Palm is being mentioned as an acquisition target just for its patent portfolio.
HTC of China had been considered a leading candidate to purchase the company but now has gotten cold feet and backed out, leaving one other possible buyer. The alternatives after that get worse. Enterprise Mobile Today examines.
It’s coming down to the wire for Palm. The troubled smartphone maker has lost its most prominent suitor as HTC has backed out of potential acquisition talks. HTC was interested, not so much for the phones as Palm’s patent portfolio, but decided against making a bid after reviewing Palm’s books, a source with direct knowledge told Reuters.
“There just weren’t enough synergies to take the deal forward,” the source told Reuters. Huawei, the world’s No. 2 wireless telecom equipment maker, also declined to put in a bid. Palm reportedly hired bankers to help it find a buyer earlier this month.