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Palm, a pioneer in mobile and wireless Internet solutions and the world leader in handheld computing, was founded in 1992. In October 2003 shareholders of Palm, Inc. voted to spin its PalmSource subsidiary off as a wholly independent company. An integral part of this transaction was the acquisition of Handspring, Inc. The combined companies are known as palmOne, Inc. In May 2005, the company acquired full rights to the brand name “Palm” and announced that palmOne would change its name to Palm, Inc. The Palm brand had been co-owned by PalmSource and palmOne since the October 2003 spin-off of PalmSource from Palm, Inc.