Report: Palm Puts Itself Up For Bids This Week

Palm’s been falling on hard times lately, which comes as no news to anyone. In fact, there has been an incredible amount of speculation and rumors floating around pointing to a company buying out Palm sometime in the near future, Lenovo being the most recent rumor. Thus, news that Palm has officially put itself up for sale is a big deal but not shocking anybody by any means.

Bloomberg reported earlier today that according to three people familiar with the situation, Palm is looking to Goldman Sachs and Qatalyst Partners to find itself a suitor willing and able to snatch it up and rescue the failing company from utter despair. According to Bloomberg’s sources, Palm is looking for a bidder as early as this week.

As to who may be interested in buying out Palm, we are still relying on rumors for information. Lenovo, Nokia and HTC are currently the main candidates that have been discussed. Even Dell looked into the sale, but decided against it. So this is still a subject up for debate, but it is big news that Palm is for sure ready to make a huge change as soon as possible.

Currently Palm has a market value of $870 million. Any billionaires interested in snatching it up?

via Bloomberg

Author: Brad Molen

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