PalmSource just announced that their next version of Palm OS will be built with Linux at its core. To this end, they’re purchasing China MobileSoft (CMS), which has a phone platform already built on top of their own Linux variant. As the Register puts it:
Like Apple with Mac OS X, PalmSource will keep all the top-layer code proprietary, but it will release any changes it makes to the underlying Linux code — for faster boot times and battery life preservation systems, for example — available to the open source community.