HP to Buy Palm in $1.2 Billion Deal

Palm has been up for sale for a few weeks now with speculation about HTC and other various mobile phone companies buying it.

We hear now that HP are to buy Palm. HP confirmed that they are paying $1.2 billion for the company which works out at $5.70/share and 23% higher than Palm’s stock price yesterday.

Purchasing Palm would get HP more in to the mobile arena and allow the company to develop and carry on building the webOS platform.

With devices such as the HP Slate launching soon, we might also see webOS based slate devices which would tackle the iPad from Apple and the various Android OS and Linux OS devices we have started to see this year.

webOS potentially could take on iPhone OS, Android OS and Windows Phone 7 if marketed correctly and supported by enough devices which has been a problem in the past.

HP will be investing heavily in to webOS where it will be built to function well on netbooks, phones and tablet computers. One thing we do not know right now is how HP will brand webOS and Palm. Perhaps they will keep the same names.

Via: Geeky Gadgets