HP To Buy Palm For $1.2 Billion

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."

Comments

It's about the patents

[jdastrup]

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.

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[account_deleted]

Comment removed based on user account deletion

Re:A relief...

[TheRaven64]

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...