3Com_s Palm Computing Going Public.
Published:
15 September 1999 y., Wednesday
Computer network equipment maker 3Com Corp. said its highly successful Palm Computing subsidiary will become an independent publicly traded company. The company plans to carve two distinct entities from the new structure, which will enable 3Com and Palm to build on their own respective market leadership positions in networking and handheld computing, said Eric Benhamou, 3Com_s chairman and chief executive officer. "The Palm economy has emerged into a reality. It has reached critical mass," Benhamou said at a press conference in New York earlier today. 3Com expects to hold an initial public offering (IPO) in January for "up to 20 percent" of its Palm Computing shares, according to Janice Roberts, senior vice president of business development at 3Com. It will spin off the remaining shares to 3Com shareholders four to six months after that, she said. Under this plan, 3Com will own shares in both companies. It also intends to be a licensee of Palm_s technology following the spin-off, the company said. Palm Computing will also get its own chairman and chief financial officer, who will be named in the next few months, Benhamou said. It was also announced that James Barksdale, former chief executive of Netscape Communications and Gordon Campbell, president and chairman of Techfarm, will become members of Palm_s board of directors.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund (IMF) mission led by Mr. Hunter Monroe of the IMF’s Western Hemisphere Department visited Dominica during January 18-28 for the annual Article IV discussions on economic developments and macroeconomic policies.
more »
Experts in agriculture and government authorities coincided in requesting new management mechanisms and market regulation to protect the farming sector from the price crisis and enable generational changeover in rural areas at the European Congress of Young Farmers, organised by the ASAJA-Seville agricultural organisation.
more »
Immediate action is required to solve Europe's skills deficiencies and give Europeans a better chance of labour market success in the future, says an independent expert report published by the European Commission today.
more »
The European Investment Bank (EIB) is lending EUR 15.5 million to upgrade water supply and wastewater treatment in the City of Mykolayiv (southern Ukraine) and EUR 100 million to finance small and medium-sized investments in the areas of SMEs, energy efficiency and the environment in Ukraine.
more »
The European Commission can confirm that on 20 January 2010 Commission officials carried out targeted inspections at the premises of producers of Flexible Alternating Current Transmission Systems (FACTS).
more »
The European Commission has authorised today under the State aid rules a Lithuanian scheme worth LTL 10 million (approximately EUR 2.9 million) aimed at supporting farmers who encounter difficulties as a result of the current economic crisis.
more »
The effects of the global food, fuel and economic crisis would be felt by Africa’s people for some time yet and it was important to persist with efforts to protect the most vulnerable while laying the foundations for future productivity and growth, World Bank Group President Robert B. Zoellick said Tuesday.
more »
Mongolia’s herders have learnt a hard lesson this winter; a lesson that can perhaps be applied to managing Mongolia’s economy.
more »
DnB NORD Bankas, the leader of the country’s in investment products market, raises initial margin ratio for repurchase deals for most actively traded Lithuanian and Estionian shares.
more »
With over 23 million unemployed in the Europe Union and the jobless figure having risen in every member state since last year, how Europe is coping with the crisis and the effect on pension systems were discussed on Thursday 28 January.
more »