MILPITAS, Calif.-PalmOne Inc. announced Handspring Inc. alumnus Ed Colligan will serve as the company’s new president.
Colligan was formerly PalmOne’s senior vice president and general manager of its Wireless Business Unit and was president and chief operating officer of Handspring before PalmOne acquired the company.
“The integration of Handspring into PalmOne is now complete with the consolidation of the handheld and wireless business units,” said Todd Bradley, PalmOne’s chief executive officer. “We’re one company, with one compelling portfolio of devices that serves entry-level consumers to mobile professionals. Ed will do a great job building on our momentum and helping to drive the evolution of the handheld computing and communications marketplace.”
In other Palm news, PalmSource Inc. announced it prepaid the $15 million convertible subordinated note held by Texas Instruments Inc. in exchange for a 12.5-percent discount on the outstanding principal. Under the terms of the prepayment agreement, PalmSource paid approximately $13 million plus accrued interest in June of the original $15 million principal outstanding, resulting in a discount of approximately $2 million.
PalmSource sells the Palm operating system, while PalmOne sells Palm devices.
