The story
Wolfgang Palm was active as a keyboardist in bands in the Hamburg area before becoming aware of the then-burgeoning synthesizer market. Palm started his company in 1975.
Although he had reportedly built many synthesizers on his own, his first commercially available synthesizer was a modular synthesizer, dubbed the 300 Series, which, despite being fairly sophisticated, failed to sell in large quantities. Motivated by his failure and inspired by the design of the popular Minimoog, Palm introduced the 1002 and 1020 synthesizers. Both were portable, analog, monophonic, and relatively compact. The 1002 used voltage-controlled oscillators; however, the 1020 was revolutionary in its implementation of digitally controlled oscillators, which were much more stable and had a distinctive sound that later became PPG's trademark.
From Wikipedia’s article on Palm Products GmbH, shared under CC BY-SA 4.0.3
