Every few months, a rumor goes around Wall Street that some company is going to acquire Palm, Inc. This happened again today.
The catalyst this time was Motorola’s announcement on Friday that it is buying Good Technology, one of RIM’s chief rivals in the market for push email. This caused some investment analysts to speculate that the next target would be Palm.
Jonathan Hoopes, an analyst for ThinkEquity, said, "In our opinion, Motorola’s decision to buy Good Technologies further increases the probability that a vendor of mobility solutions will make a bid for Palm as participants in the quickly evolving communications space seek to build their asset portfolios in an effort to establish defensible positions."
As always happens, reports like these push up Palm’s share price. It was up 3.22 percent on Monday.
These rumors are ignoring the fact that Ed Colligan, Palm’s CEO, said just last month that his company is not for sale.
- Motorola Buying Push-Email Maker Good Technologies
- Palm Responds to NTP’s Patent Infringement Lawsuit
- Palm Stock Up on Acquisition Rumors
Thanks to the Associated Press for the tip.