Palmer Technologies, Inc. was a company founded by Ray Palmer. Previously known as Queen Consolidated, Ray Palmer took it over and rebranded it as Palmer Technologies. The company's subsidiaries included Palmer Paper.
Ray's primary goal for Palmer Tech was to help rebuild Starling City by having it renamed Star City, but also to use its resources in order to make his A.T.O.M. Exosuit to become the vigilante known as "The Atom". Palmer Technologies also formerly served as the new base of operations for Team Arrow in secret after Ray became affiliated with the team following the exposure of their previous base. The Star City Headquarters would be destroyed by the Ninth Circle as a result of its war against Oliver Queen, his family, and his allies.
In an erased future, it is re-branded as Smoak Technologies. In a possible future, Sydney Palmer began working at the company and claimed the A.T.O.M. technology as his own before selling it to the military.
Even though Isabel Rochev forcibly took over and ran Queen Consolidated into the ground to bankrupt the Queen family, their shares were still part of the company when Ray took over and made it profitable again. As a result, Oliver has 45% stock and receives money from the company to fund his vigilante activities.
Felicity Smoak becoming CEO
In May 2015, Palmer Technologies suffered the effects of a large explosion in the CEO's office, the consequences of which resulted in Ray's apparent death. Upon instructions left by Ray, Felicity Smoak was named as the new CEO and ran the company remotely for the first six months. Another effect was that the stock price of the company dropped as a result of Ray's assumed death - a problem that Felicity was still trying to fix over five months after. When Ray was revealed to be alive and rescued, Felicity offered to return the CEO position to him. However, Ray declined it for the moment.
End of Felicity's employment
In early 2016, the board members voted Felicity out as CEO, in an initiative seemingly led by Dennis because of her lack of participation regarding their concerns about her plans with the bio-stimulant implant. Felicity didn't have the opportunity to properly explain her plan to the board because she had been busy with her duties trying to save the world with Team Arrow. Following her termination from Palmer Technologies, Felicity was given a sizable severance package. The current CEO of the company is at this moment unknown. When Ray temporarily retired from the Legends, he was unable to resume ownership of Palmer Technologies, despite being its founder.
Destruction of Palmer Tech building
Because Palmer Tech used to be Queen Consolidated and Emiko Adachi had a vendetta against the Queen family because Robert Queen abandoned her, she wanted to destroy the building with the help of her army, The Ninth Circle. After Team Arrow had the building evacuated, Oliver Queen and Emiko had one last confrontation before Oliver convinced her to stop her mad and unjust quest for revenge and told her how much pain and suffering she caused in Oliver's life which was far worse than what Robert ever did to her and her mother.
Once Emiko stopped, Beatrice and Virgil from the Ninth Circle demanded she continue her work. When she refused and attempted to assert her authority, Beatrice stabbed her and a fight ensued between Oliver and Emiko against the Ninth Circle. They destroyed the building successfully and Emiko died.
The current status of the tech company is unknown.
Sometime after 2016, Sydney Palmer begins working for Palmer Technologies and claims Ray's A.T.O.M. technology as his own. He then sells it to the military and begins work on the robotics industry. By 2147, Palmer Technologies is a major company in the Kasnia Conglomerate, producing robots used as a police force by Tor Degaton with the help of Sydney's descendant, Dr. Bryce. Due to the brutality of the robot forces, combined with the threat of Vandal Savage using the robots to conquer the world, a time-traveling Ray Palmer and Kendra Saunders convince Bryce to deactivate the entire army.
In one potential version of the year 2046 experienced by the Legends, in which Ray and Sara Lance never returned from their trip to the future, it is revealed that the company was now called "Smoak Technologies". This suggests that Felicity believed that Ray was dead and eventually changed the name. Felicity is mentioned in passing to still be alive, but evacuated Star City after it was attacked by Grant Wilson's Uprising. Whether Smoak Technologies as a company still existed, or if it had gone under when their headquarters was abandoned, was unknown.
DC's Legends of Tomorrow