It was only a few weeks ago that Palm was spiraling downward and was put up for sale. Several possible suitors were rumored, including HTC, Lenovo, and Huawei, but none of them made a move. Now technology heavyweight HP has announced they will be acquiring Palm for $1.2 billion. This works out to a respectable $5.70 per share of common stock. HP hopes to close the deal by July 31 of this year.
In a press call to discuss the deal HP was very straightforward in their plans to continue on with WebOS. saying they would be " doubling down on WebOS". This is a relief to many Palm fans who worried the smartphone maker could be acquired for intellectual property and dismantled. HP also talked about plans to scale WebOS to a number of larger devices. Tablets anyone?
Palm's existing hardware roadmap is not currently being altered, but HP's scale an deep pockets should make for some interesting new paths. Palm CEO Jon Rubinstein is expected to remain on as well. Do you think this is a good buy for HP? Anyone still planning on getting that HP Slate, or will you wait for the WebOS version?