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 May 31, 2000
Palm Acquires Internet-Calendar Leader

 Palm, Inc. today took a large step toward implementing its vision to put the power of the Internet into the hands of mobile users. The company announced a definitive agreement to purchase, a leader in dynamic, Internet-based calendar solutions. This acquisition Palm's first as an independent company will deliver up-to-the-minute personal services simply, anytime and anywhere to Palm-powered(tm) and other handhelds, freeing users from being tethered to their desktop PCs.

The proposed acquisition by the world's leading handheld maker is valued at about $80 million in cash and stock options.

"Combining AnyDay's leading Internet-based calendar with Palm's handheld solutions creates a solid cornerstone for our vision of putting the power of the Internet and wireless access into the hands of Palm(tm) handheld users," said Carl Yankowski, Palm's chief executive officer. "The Internet already is going mobile, and by linking mobile Internet-based services to your pocket calendar, we can drive this trend and deliver a powerful combination for busy professionals, parents and students alike. The possibilities are infinite, and they make the Palm experience even more valuable."

"In Palm, we have found a company that shares our vision of the future to bring new services and features online so that consumers and business people can enjoy anytime, anywhere access to the Internet," said Steve Watts, chief executive officer and co-founder of Cambridge, Mass-based AnyDay. "By becoming an integral part of Palm, we'll be far better able to develop new mobile services that delight consumers and business people, and help them conquer their schedules."

Personal mobile portal with time and location services

Palm will leverage its expertise in mobile- and wireless-based personal-information management with the exploding capabilities of the wireless Internet and wireless access. Palm also will develop a mobile portal of personal services with time- and location-based services at the core. These services will be available to Palm and Palm OS(r) users - wireline or wirelessly, handheld or phone and will build on the foundation of Palm's heritage of simplifying people's lives.

"Imagine having an active, dynamic calendar comprised of specific content you choose," said Barry Cottle, chief operating officer, Palm's Content and Access Business Unit, to whom Watts and AnyDay employees will report. "Think how much more productive you will be when your calendar automatically populates itself with the right information, makes arrangements on your behalf and keeps you posted when changes occur."

Cottle painted these pictures:

- You already can choose your flights from a Palm handheld, but imagine that this information is automatically incorporated into your calendar, that your handheld alerts you of flight delays, and that once you arrive, you automatically receive local and timely information of interest. You get directions to your hotel, tips on the best restaurants, information on local entertainment and sporting events and easily make reservations for them all at the tap of a stylus.

- Or perhaps you're a fan of Limp Bizkit, the Dave Mathews Band or Carlos Santana. Because you've signed up for notifications, your Palm handheld tells you that your favorite musicians are about to release a new CD and that you can receive it before it goes on sale at retail. Or, you see that a new tour schedule has just been released, and you can secure and pay for premium seats.

- Suppose you're a member of a soccer dads and moms' carpool. If one driver finds he or she can't drive as scheduled, a quick poll of other drivers - via their dynamic calendars - can be taken and new assignments made without ever making a phone call. The same efficiency can be applied to busy executives; a dynamic calendar can identify potential matches for a meeting among a half-dozen attendees.

Businesses already can enhance employee productivity with AnyDay software, which synchronizes with the most popular enterprise calendar packages including Outlook, Lotus Organizer, ACT and GoldMine, as well as Palm and Windows CE handhelds.

"The services and applications possible from this pairing are stunning and inspiring," said Andrew Seybold, editor in chief of Andrew Seybold's Outlook, based in Boulder Creek, Calif. "Palm has significantly advanced its vision with the acquisition of AnyDay. The time- and location-based view of the wireless world that Palm gives you will be one of the best ways to use the Internet.

"Allowing handheld users real-time and wireless access to dynamic Internet-based calendars will enable an abundance of time-saving applications. From secure schedule-sharing to event notification, the value of handhelds will rise substantially for consumers and businesses," continued Seybold.