PalmSource, maker of the PalmOS, has purchased a China MobileSoft Limited (CMS). CMS is making a version of Linux for mobile devices, which PalmSource intends to put into its own software:

PalmSource will continue to offer both Palm OS Garnet and Palm OS Cobalt to support a broad range of mobile devices including smartphones. PalmSource also plans to implement Palm OS on top of Linux, bringing the benefits of Palm OS to the Linux community.

Monetary terms of the deal were not announced.