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Handspring Files For IPO

Handspring, Inc., announced today that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock.

Handspring designs and markets handheld PDAs that use the Palm operating system. Handspring’s three principles, Jeff Hawkins, Donna Dubinsky and Ed Colligan invented the original Palm device and built up the company that was eventually sold to US Robotics and then 3Com. Just a few weeks ago, 3Com split off its Palm division with a highly successful IPO.

Handspring’s first product, the Visor, combines organizer applications with a unique “Springboard” platform expansion slot, which offers users an easy way to add hardware and software application modules.

The company recently announced it will begin selling the Visor in retail stores nationwide. It has already shipped products to three select retail outlets: Best Buy, CompUSA and Staples. Handspring will also continue to sell the Handspring and Springboard modules through its web site.

Credit Suisse First Boston will lead manage the underwriting group, with Merrill Lynch & Co., Donaldson, Lufkin & Jenrette and U.S. Bancorp Piper Jaffray serving as the co-managers.