en.wikipedia.org/wiki/Steve_Sakoman
1 correction found
PalmSource acquired Be in 2001
Be was acquired by Palm, Inc. in 2001, not by PalmSource. PalmSource was distributed as a separate company later, in 2003.
Full reasoning
The acquiring company in 2001 was Palm, Inc., not PalmSource.
- A contemporaneous Computerworld report on the transaction says: "Palm Inc. has completed its takeover of Be Inc." and explains that Palm acquired Be's technology assets in exchange for Palm stock.
- A 2003 SEC filing for Palm's PalmSource separation shows that PalmSource was being distributed to Palm stockholders in 2003, i.e. after the 2001 Be deal. That means PalmSource was not the entity that acquired Be in 2001.
- A Microsoft 2003 Form 10-K also refers to "Be Incorporated ... whose assets were acquired by Palm, Inc. in August 2001".
So the article names the wrong acquirer: the 2001 deal was done by Palm, Inc., with Be assets later associated with Palm's PalmSource business.
3 sources
- Palm completes buyout of Be Inc. - Computerworld
"Palm Inc. has completed its takeover of Be Inc." The article adds that Palm acquired substantially all of Be's intellectual property and technology assets.
- Prepared by R.R. Donnelley Financial -- Amended Registration Statement on Form S-4
The 2003 filing describes a transaction in which "Palm will distribute ... PalmSource common stock" to Palm stockholders, showing PalmSource was being separated from Palm in 2003, not the 2001 acquirer of Be.
- Form 10-K
"Be Incorporated, a former software development company whose assets were acquired by Palm, Inc. in August 2001..."