• HP To Acquire Palm For 1.2B

    HP and Palm, Inc. (NASDAQ: PALM) today announced that they have entered into a definitive agreement under which HP will purchase Palm, a provider of smartphones powered by the Palm webOS mobile operating system, at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion. The transaction has been approved by the HP and Palm boards of directors.

    The press release notes that Palm's chairman and CEO Jon Rubinstein, who previously served as a key Apple executive and is credited as being one of the primary minds behind the iPod, is expected to remain with the company.

    Full Press Release
    Comments 4 Comments
    1. MStrawder's Avatar
      Well, I'm glad to see that WebOS isn't getting shelfed. I am very interested in seeing where HP takes this though.
    1. jhall1986's Avatar
      A new ipaq??? i hope so
    1. MissBlackberry9630's Avatar
      I'm interested to see what HP is going to do with the Web OS as well. Its not the greatest OS I have ever used, but I do think that it has a lot of potential.
    1. captain_tinker's Avatar
      Oh No! There goes Palm... What a waste. Having worked for HP in the past, and having used their version of a "smartphone" the iPAQ, I have to say, that Palm isn't going to last long. the iPAQ was bar none the WORST excuse for a smartphone I've ever had the displeasure of using. I've seen the latest Palm devices, and even though I am not at all a Palm user, I use BB's instead, I do think they are a fantastic smartphone, and I'm sure a lot of people like them and use them. They sure as heck are a lot better than the iPAQ. Seems thats the only way HP has been able to get anything lately, buy someone else with a superior product, then mismanage them to death. This is really too bad.
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