However, the rise of smartphones hurt the company’s bottom line and tried to keep up with its webOS Operating system launched in 2008 with the Palm Pre. HP didn’t have any luck with the company and sold the team and the patents behind webOS to LG, and the Palm trademark to TCL Corporation in 2013 and 2015, respectively. In an unexpected announcement today, HP revealed that they have come to an agreement to acquire Palm for about $1.2 billion. It has been rumored that Palm is being put on sale for several weeks now and that HTC or Lenovo is looking into a deal. HP coming in and scooping up Palm is a surprise but it' a move that made some sense. HP and Palm made this joint release today: 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 . Read more in our articles including "Sony Ericsson, Motorola, Nokia, Blackberry, LG, HTC, Sony: What went wrong?" and "HP buys Palm for $1.2 Billion".
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Apr 17, 2008However, the rise of smartphones hurt the company’s bottom line and tried to keep up with its webOS Operating system launched in 2008 with the Palm Pre. HP didn’t have any luck with the company and sold the team and the patents behind webOS to LG, and the Palm trademark to TCL Corporation in 2013 and 2015, respectively.
In an unexpected announcement today, HP revealed that they have come to an agreement to acquire Palm for about $1.2 billion. It has been rumored that Palm is being put on sale for several weeks now and that HTC or Lenovo is looking into a deal. HP coming in and scooping up Palm is a surprise but it' a move that made some sense.
Our coverage of palm includes: "Sony Ericsson, Motorola, Nokia, Blackberry, LG, HTC, Sony: What went wrong?"; "HP buys Palm for $1.2 Billion"; "Palm Pre with new webOS unveiled". Each article provides unique insights and information.