PDA and smartphone maker Palm looks set to be bought up this week. The company is reportedly going to announce its new parent company on Thursday when it releases its first quarter financial results.

Motorola is currently at the front of the buy-out queue, chiefly as a spoiler to Nokia which is currently the buy-out favourite. Private equity firms Silver Lake Partners and Texas Pacific Group are said to be interested too.

Motorola chairman Ed Zander is apparently keen to get the company out of its low-end price war with Nokia in the US. It wants to launch more mid- and high-end models with better smartphone functionality according to Unstrung .