Smartphone Maker Palm is Seeking a Buyer

Smartphone maker Palm Inc is looking to sell itself and is seeking bids for the company as early as this week, Bloomberg said, citing three people familiar with the situation.

Palm, which makes the Pre and Pixi phones and develops WebOS phone software, is working with Goldman Sachs Group Inc and Qatalyst Partners to find a buyer, the agency said. Palm's shares jumped on Friday, capping a volatile week in which the smartphone maker's stock seesawed on takeover rumours and options market chatter.

On Friday, Taiwan's Economic Daily News said that HTC Corp, the world's No. 5 smartphone maker has, "opened discussions about an intent to acquire" Palm. Palm could not be immediately reached for comment by Reuters outside regular U.S. business hours.

Published Date: Apr 12, 2010 02:30 pm | Updated Date: Apr 12, 2010 02:30 pm