HP buys Palm to save the Future of WebOS

by Sameer on April 29, 2010

in Technology, Telecom

In a press release entitled “HP to Acquire Palm for $1.2 Billion” HP declared to have acquired Palm at 1.2 billions along with Palm WebOS. Here are few selections from HP Press Release

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.

also

We’re thrilled by HP’s vote of confidence in Palm’s technological leadership, which delivered Palm webOS and iconic products such as the Palm Pre. HP’s longstanding culture of innovation, scale and global operating resources make it the perfect partner to rapidly accelerate the growth of webOS

The press-release further confirmed Palm’s current chairman and CEO, Jon Rubinstein, is expected to remain with the company.

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