Shareholders approve Palm's Handspring buy

Shareholders approve Palm's Handspring buy

Shareholders put their stamp of approval on Palm's buy of Handspring this week, allowing the handheld makers to officially merge under the new name of PalmOne.

Palm stockholders also approved a spin-off of the company's handheld operating division, PalmSource. The moves came at Palm's Annual Stockholders Meeting at the company's headquarters in California.

Palm announced its plan to scoop up Handspring and spin-off its operating system business last June, saying it wanted to focus on providing handhelds and smart phones.

Palm said that its fusing with Handspring created a stronger competitor in the handheld market.

PalmOne is due to begin trading under the ticker symbol "PLMO" on the Nasdaq stock market.

PalmSource, meanwhile, will begin trading on the Nasdaq under the symbol "PSRC".

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