HP buys Palm

[xxMATTGxx]

Reports are coming in that HP have bought Palm.

HP has just announced that it's acquiring Palm to the tune of $1.2 billion, which works out to $5.70 per share of Palm common stock. The deal is planned to close by July 31, which marks the end of HP's third fiscal quarter of the year. Current Palm CEO Jon Rubinstein is "expected to remain with the company," though it's not said in what capacity. Press release after the break. There'll be a call to discuss the acquisition in more detail (well, we hope in more detail) at 5PM ET, so we'll keep you abreast as we learn more.

http://www.engadget.com/2010/04/28/hp-buys-palm/

[Jack!]

Wow, i wasnt expecting palm to sell, thought they were doing quite well

[HotelUser]

Uh oh.

I don't see anything coming out of buying Palm, honestly.

[GommeInc]

Good luck, Palm were slowly falling into the depths. Not sure what HP plan to do with them, the OS was far from decent last I heard.

[Barmi]

My jaw dropped when I first read about it. A Palm sale was imminent, but to HP? Shocker.

Uh oh.

I don't see anything coming out of buying Palm, honestly.

Yeah, because HP has great software and Web OS is terrible.

[Agnostic Bear]

Excellent, now there's one less competitor in the phone market, just what we need!

[Smits]

Be interesting to see what HP do with this.

[Markeh]

HP must be looking to get back into the phone market (yes, they were apparantly in it with the iPAQs.)

I'm sure that with some of HP's design skills and quality, and the apparantly awesome webOS, they might just be onto a winner.