PalmOne pays $30M to become Palm again

Handheld maker palmOne inked a deal with mobile OS maker PalmSource that will allow PalmOne to regain control of the Palm brand. Under the terms of the deal, PalmOne paid PalmSource $30 million for PalmSource's 55 percent stake in the Palm Trademark Holding Company (PTHC), a body created by Palm when the company split itself into two companies -- palmOne and PalmSource. The PTHC controlled the Palm brand and identity after Palm split into two companies. As a result of the deal, PalmOne will again call itself Palm starting later this year.

PalmSource will also change its name, though the company will be able to use the PalmSource brand along with some Palm trademarks for four years. It is not clear yet what new name PalmSource will adopt. Also, under a separate deal, PalmOne renewed its Palm OS license with PalmSource, allowing palmOne to offer Palm OS-based devices through the end of 2009.

For more on the palmOne, PalmSource deal:
- read this article from The Register