PalmOne on Tuesday said it has bought full rights to the Palm brand name from PalmSource for $30 million. PalmOne, a maker of handheld computers and mobile phones, said it would change its name to Palm later this year as part of the deal. PalmSource, maker of the operating system used in PalmOne devices, has held a 55 percent share of Palm Trademark Holding since spinning off from Palm in October 2003. PalmOne also renewed its operating system license from PalmSource through 2009 for a minimum royalty of $148.5 million.
SOURCE: Reuters