Hit #61

PalmSource (PSRC) is being acquired by Japanese software maker, Access for $18.5/share in cash. This is a whopping 83% premium over today's close of around $10!

My average cost is around $12.1/share. Today's offer represents a 53% premium over that price.

I had mentioned PalmSource a few times in the past, most recently when I wrote about the Cisco/Nokia merger rumor.

Are Japanese companies finally coming out of their shells ? A recovery in Japan is long overdue.

Japanese equities and real-estate represent a great opportunity now, after a 15 year slump. Japanese companies are well-positioned to benefit from China's long term growth. Japan should be a part of any long-term investing strategy now.

What will happen to Palm next ? They must be on the block too. I was expecting PalmSource to go back and become part of the parent company again. Since that isn't happening, Palm itself must definitely be considering a sale.

Openwave (OPWV), Jamdat Mobile (JMDT) and Infospace (INSP) remain targets. Infospace is definitely worth buying now, after their stock took a deep dive recently following an earnings miss.

I own a few Openwave shares, but at its current price it is expensive. I would definitely be a buyer of Infospace stock today. Jamdat is fairly priced, and opening a small position now makes sense.

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