Filed under: Palm , Misc The wires are alight with news that Palm will be announcing a deal to sell a 25% stake to Elevation Partners. The private equity firm where Bono is a founding partner will shell-out $325 million for the privilege of helping Palm reorganize. Jon Rubinstein, Apple's retired head of hardware -- yes, that hardware -- joins Palm as executive chairman to head up product development while Apple's former CFO Fred Anderson -- yes, that Fred Anderson -- joins Palm's board of directors. Sure, it's not the sale that many had hoped for, but at least we can look forward to a new limited edition black and red Foleo which is somethin'. [Via MocoNews ] Read | Permalink | Email this | Linking Blogs | Comments