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 Be Announces Sale of Intellectual Property and Technology Assets to Palm
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Posted by: LearningLinux :: news - LearningLinux on Sunday, September 02 @ 22:42:34 CDT
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 Be Announces Sale of Intellectual Property and Technology Assets to Palm
MENLO PARK, Calif., Aug. 16 /PRNewswire/ -- Be Incorporated (Nasdaq: BEOS - news), the creator of the BeIA and BeOS operating systems, today announced it has entered into a definitive agreement to sell its intellectual property and technology assets to Palm, Inc. (Nasdaq: PALM - news). The purchase price is $11 million, to be paid in common stock of Palm, which Be currently intends to liquidate as soon as reasonably practicable following the closing of the transaction. Be's board of directors has approved the transaction, and the winding-up of Be's operating business following the closing. The closing of the transaction and the winding-up are subject to the approval of Be's stockholders, and the satisfaction of other customary closing conditions. The transaction is expected to close in the fourth calendar quarter of 2001.
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