HP purchases Palm for $1.2 billion

| April 28, 2010 | Reply

Well like myself not many people saw this one coming. HP stepping up and dropping the bomb in buying the somewhat lost company in Palm. Now we shall all sit back and wait to see what the PC giant in HP will do with the purchase of palm!!!!!

palm-logo

Hewlett Packard today announced that it is acquiring Palm for a cool $1.2 billion, or $5.70 per share of common stock. The acquisition has been approved by the boards of both Palm and HP, but is subject to regulatory approval. All of the regulatory wrangling is expected to be completed by the end of HP’s third quarter which ends July 31, 2010. Palm CEO John Rubinstein is expected to remain at the company in an undisclosed capacity. From the wording within the press release, it appears as if webOS may live on.  Check out the full press release after the jump.

SOURCE:BOYGENIUSREPORT.COM (CLICK HERE)

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Category: Mobile News

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Blackberry addict, love testing new themes and apps. Volunteer fireman, New Jersey Devils fan.