The Palm buy-out of Handspring has cleared a major hurdle, because the antitrust waiting period in which objections can be raised has expired.

Palm Solutions president and CEO Todd Bradley said he believes the acquisition will provide the company with the "broadest portfolio of mobile computing and communications solutions in the industry".

Palm announced its intention to buy Handspring last June, with the aim of offering converged devices.

Palm wants to merge Handspring with Palm Solutions Group – the company's handheld division – and form a new company with a new name. The new company is due to be split into two businesses: one focused on handhelds and the other on smart phones.

The buy was subject to the US Hart-Scott-Rodino Anti-Trust Improvements Act waiting period. Pending approval from both companies' stockholders and other conditions, the buy is expected to close in the late third-quarter to early fourth-quarter of this year, the companies said.