palmOne Buys 'Palm' Name
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palmOne announced on Tuesday that it will be buying back the rights to the "Palm" brand name in a $30 million transaction with sister company PalmSource. As a part of the deal, the company will change its name to Palm, Inc. by years end, as well as rebranding its products with the Palm brand name.
The two companies have jointly owned the rights to the brand name since 2003, when they were split from Palm Computing. As part of the deal, PalmSource will license the Palm name from palmOne during a four-year transition period. It is unclear at this time whether or not PalmSource will re-brand the Palm OS to a different name upon expiration of the deal.