Palm Ready To Sell Itself To Highest Bidder, Possibly This Week

Palm has been hemorrhaging money for so long I’ve come to suspect that they may be hemophiliacs, now rumors are pointing to a possible and what I’ve long seen as the inevitable sale of the company, possibly to a long-time competitor.

Bloomberg has received tips that competitors HTC and Lenovo may both be in the running to buy up the company, more than likely as part of a technology and talent buy, after all the programmers behind WebOS are a pretty savvy group who obviously have a handle on multi-tasking.

Dell was also said to be in the running, but they backed off for unknown reasons.

Currently none of the named companies will say whether they are seeking ownership of the company, what is known however is that Palm only has around $776 million and there’s a good chance Elevation Partners (owned largely by rock band U2) will soon stop injecting money into the failing company. Then again Elevation partners has a track record of pouring cash into failing properties.

If no more money is invested into the company Palm will need huge sales or they could see their doors closing shortly after the end of 2010. [Electronista]