HP just announced that they’ll acquire Palm for a whopping $1.2 Billion in cash and stocks. HP and Palm boards of directors already approve the transaction, so there’s a little chance that this will not push through. Full PR after the break.
Palm is the company behind Palm smartphones and Palm webOS mobile operating system, which is one of the key asset why HP acquired Palm. The transaction is expected to close during HP’s third fiscal quarter ending July 31, 2010. I guess HP wants to have their own mobile OS and not use the Google Android Mobile OS.
You can read the full press release here.
Last modified: April 30, 2010