Nokia looking to acquire Palm

Palm Pre maker, Palm Inc, based in Sunnyvale, California, gained 7% in Nasdaq trading which is a jump that a few analysts attribute to speculation that Nokia Ovi may make a bid for Palm reports an article on Bloomberg.

The world’s biggest mobile phone maker, Nokia has recently fallen behind rivals in the software stakes for smartphones and by luring Palm they would be able to close the gap states James Faucette for Pacific Crest Securities Inc.

Faucette also added that Palm is worth $17 per share on its own and $25 to $30 to Nokia based on what they are spending to replicate Palm, and such an acquisition would make sense.

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