Palm's Handspring buy passes antitrust waiting period

Palm's Handspring buy passes antitrust waiting period

Palm has announced that the antitrust waiting period for its acquisition of fellow handheld maker Handspring had expired, moving it closer to a completion of the acquisition later this year.

In a statement, Palm Solutions president and chief executive officer (CEO), Todd Bradley, said that he believed the acquisition would provide the company with the broadest portfolio of mobile computing and communications solutions in the industry.

Palm announced its intention to buy Handspring last June, with an aim of offering converged devices.

The company said that it wanted to merge Handspring with Palm Solutions Group - the company's handheld division in California - and form a new company with a new name.

The new company is due to be split into two businesses: one focused on handhelds and the other on smart phones.

The buy was subject to the Hart-Scott-Rodino Anti-Trust Improvements Act waiting period. Pending approval from both companies' stockholders and other conditions, the buy was expected to close in the late third-quarter to early fourth-quarter of this year, the companies said.

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