This is good news for me personally as I have a few hundred shares of PalmSource stock that I'd been waiting to sell. I think it's also good news for PalmSource; ACCESS seems to be a good company. They've supplied the core to the PalmSource Web Browser for several years, and their engine is also the core of the Blazer browser that Palm puts on their devices. This gives PalmSource a way back into the Japanese market with their smartphone products after being dropped by Sony, and it also takes good advantage of the feature phone software they got in their purchase of China Mobilesoft last year.
I hope that ACCESS will keep most of the US staff; I would think that they'd recognize the service and expertise that the current PalmSource crew has, and I also expect that they approve of the move of the Palm OS system to run on Linux, since Linux-based phones are really starting to do well in Asia.