HP to acquire Palm for USD 1.2 bln

Thursday 29 April 2010 | 07:53 CET | News
HP is acquiring Palm for USD 5.70 cash per share, or a total of USD 1.2 billion. HP said its global scale and Palm's webOS platform will allow HP to get more involved in the smartphone and connected mobile device market. The webOS will allow HP to take advantage of features such as multitasking and always up-to-date information sharing across applications. Subject to normal regulatory approvals, the transaction is expected to close during HP's third fiscal quarter ending 31 July. Palm chairman and CEO Jon Rubinstein is expected to remain with the company.

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