The acquisition - to be paid for in Palm common stock - was valued by the companies at $19 million, and is expected to close by the end of the year.
Palm already licenses ThinAirApps software, which gives access to email, calendars and other functions in Microsoft Outlook from a wireless Palm handheld.
The two firms have also worked together over the past year to develop server software for accessing data that's stored behind a firewall.
Todd Bradley, executive vice president and chief operating officer of Palm's Solutions Group, said if the merger goes ahead as planned, the acquisition would be a "linchpin" in Palm's long-term enterprise and wireless strategies.
Palm expects to retain most of ThinAirApps' employees, including its engineering team.