Palm raises another $100 million from investors(0)
Just a little over a week ago, I wrote about “The three valley companies most vulnerable in 2009.” My three top picks were Sun Microsystems, AMD and Palm.
I haven’t changed by mind on Palm’s outlook. But on Monday, the company announced that it raised $100 million from Elevation Partners, one of its main backers.
According to the press release:
“The additional capital from Elevation Partners will enable us to put added momentum behind the new product introductions scheduled for 2009 and will provide us with enhanced stability in unsettled economic times,” said Ed Colligan, president and chief executive officer of Palm, Inc. “Elevation has been a great partner to Palm, and we appreciate their continued confidence and support.” Read the rest of this entry »
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