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

Did they learn nothing from Ipaq?

[ip_freely_2000]

Wow. $1.2B for what? A list of customers that have no taste?

Could be good. Could be dumb.

[blair1q]

Palm's software and hardware are way overmatched by Apple and the Droids.

HP will have to come out with something pretty spectacular to get their money back on this.

My take? Fraud....

[alexborges]

It makes no sense. The price makes no sense, the OS makes no sense for HP/CQ, moving into pervasive computing through palmos makes no freaking sense.

New appartment in dubai, now that makes sense.

(This is just an opinion, not an acusation)