After a transaction of $324.3 million, Access is now the owner of PalmSource. Access is a maker of software for mobile devices form Japan.

PalmSource is a software development company who develops the Palm OS PDA operating system. On December 8, 2004, PalmSource acquired China MobileSoft, a software company with a mobile Linux offering. As a result, PalmSource has announced that they are going to extend Palm OS to run on top of the Linux architecture. PalmSource also develops several programs for the Palm OS.

Access wants to finish the Linux-Palm operating system started with the Chinese company. The Japanese company paid $324.3 million for PalmSource which is now its wholly owned subsidiary.

“As a result of the acquisition, each outstanding share of PalmSource common stock has been converted automatically into the right to receive $18.50 in cash,” said Access’ representatives.

PalmSource is a one of the founding members of Lips (The Linux Phone Standards Forum) and is a big promoter of Linux for mobile phones.