Following a period of speculation about the company’s future, and the appearance of the utterly unspectacular Foleo ’smartphone companion’, Palm has just sold 25% of itself to Elevation Partners. Famous for having U2’s Bono among its partners, and (in the UK) for its battle to control Eidos Interactive (which it lost to SCi Games), Elevation’s $325m (£172m-ish) investment has lead to some immediate changes at the company.
Perhaps most-notable is the appointment of Jon Rubinstein to the Palm board, with two existing members heading out the exit door — Eric Benhamou and D. Scott Mercer. Rubinstein worked at Apple from 1997-2006, where he was head of the teams that developed both the iPod and the iMac, and was head of the iPod division from 2004-2006. With a CV like that at the board table, we should expect some interesting things from Palm… More interesting than the Foleo, we hope.
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