Palm to Buy Extended Systems

Palm Inc., the No. 1 maker of electronic organizers, will buy Extended Systems Inc. for $264 million in stock to add software that companies can use to manage employees’ mobile devices. Palm will pay $22 in stock for each share of Boise, Idaho-based Extended Systems. Shares of Extended Systems rose $3.50 to close at $23.13. Extended Systems makes software for managing and exchanging data between organizers and computers. Companies need the software to link corporate systems with hand-held PCs issued to employees, Palm said.