Consolidation beginning in wireless software and devices

Posted Mar 20th 2007 7:15AM by Eric Buscemi
Filed under: Deals, Palm Inc (PALM)

According to Unstrung.com, Palm Inc (NASDAQ: PALM) is said to be announcing a deal with a prospective buyer this Thursday for $20 per share. This deal will not be the last in the wireless space.

Openwave Systems (NASDAQ: OPWV) is also under intense pressure from large shareholder Harbinger Capital. In addition, SAC recently became a large shareholder.

Openwave has similar characteristics as Palm in that it has close to $500 million in cash on its balance sheet, little-to-no debt and has new product launches underway.

While there seems to be money to be made in Palm if the $20 per share offer as reported is on target, Openwave could provide even more upside.

Tags: buyout, consolidation, deal, openwave, opwv, palm, palm pilot, PalmPilot, takeover, unstrung