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HP To Buy Palm For $1.2 Billion

Posted by timothy on from the I-like-money dept.

necro81 writes "Palm, Inc., which has struggled in recent months after making a splash with its Pre smartphone, will be bought by HP, the world's largest computer maker. The deal has been approved by both companies' boards, and should be wrapped up this summer. HP will get Palm for about $5.70/share (about 20% above today's closing price), or about $1.2 billion. That's a pretty good deal, considering that in the months following the launch of the Pre on Sprint's network, Palm's share price topped $16. But marketing blunders hindered the Pre's more widespread adoption on other carriers, and the company's very existence has recently seemed in doubt."

5 of 271 comments (clear)

  1. It's about the patents by jdastrup · · Score: 5, Insightful

    I wondered why at first, but then figured out that HP can let Palm and its products die completely, while making money with the patents alone.

  2. I wonder why... by monoqlith · · Score: 4, Insightful

    It's amazing the effect that one creepy girl can have on a share price.

    Seriously. That last one is the worst. Using a phone is like the transmigration of souls?

    Boo. In fairness, it's not the girl's fault at all.

  3. Comment removed by account_deleted · · Score: 5, Insightful

    Comment removed based on user account deletion

  4. Re:A relief... by TheRaven64 · · Score: 5, Insightful

    I was worried Palm was just going to fade away.

    Yup, now it's going to enjoy the same level of long term success as the Alpha, OpenVMS, Tru64...

    --
    I am TheRaven on Soylent News
  5. too little, too late: by UnanimousCoward · · Score: 4, Insightful

    Imagine if they launched their campaign with this commercial instead. Palm's life would be SOOOO different.

    --
    Twelve-and-three-quarter inches. Unyielding. This wand belonged to Bellatrix Lestrange.