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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."

13 of 271 comments (clear)

  1. WebOS on Itanium? by xanthos · · Score: 5, Funny

    Finally a decent OS to run on the SuperDomes!

    --
    Average Intelligence is a Scary Thing
  2. HP Reverse Telephone Notation by Lev13than · · Score: 5, Funny

    Great - does this mean we'll have to make all our calls using RPN?
    1234 555 212 1+ DIAL
    I know it's supposed to be more logical, but it just seems so confusing...

    --
    When you have nothing left to burn you must set yourself on fire
    1. Re:HP Reverse Telephone Notation by Mikkeles · · Score: 5, Funny

      I'm holding out for mobileVMS!

      --
      Great minds think alike; fools seldom differ.
  3. Return of the iPaq? by jacks+smirking+reven · · Score: 5, Interesting

    Smart move if HP is thinking about getting back into the phone business. They probably threw the idea around and came to the conclusion that they'd be another also-ran if they just pushed Android/WP7 sets (Especially since thats the move Dell is making)

    As a Pre owner I would be glad to see WebOS on some adequate hardware, and in a tablet form as well.

  4. 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.

  5. Re:HP still around? by CorporateSuit · · Score: 5, Funny

    It's my fault. I had to replace a few ink cartridges in my printer. That, alone, probably paid for Palm.

    --
    I am the richest astronaut ever to win the superbowl.
  6. Buying it back... by Hobbex · · Score: 5, Interesting

    Since HP already own 3COM, who spun off Palm in 2000 (with a first day valuation of something like 30 times what they are paying for it today), one could almost say that Palm is being bought back after 10 (not so happy) years as an independent company.

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

    Comment removed based on user account deletion

  8. Re:Android... by LWATCDR · · Score: 5, Interesting

    Why?
    WebOS has a better UI than Android does. And yes I am an Android user my wife has a Pre. WebOS is a good OS that had a STUPID SDK for a long time. They have fixed that and will soon offer access to the camera and mic which should help even more.

    --
    See my blog http://ilovecookes.blogspot.com/ for light hearted technical information.
  9. 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
  10. HP's new mobile social networking site: by Anonymous Coward · · Score: 5, Funny

    Facepalm

  11. Re:Overvalued by Anonymous Coward · · Score: 5, Funny

    Hey, I'm left handed you insensitive clod!

  12. Because HP is so good at selling handhelds... by Shag · · Score: 5, Funny

    Does my memory fail me, or is HP the company that couldn't even do a decent job of selling iPods, the handheld-electronics equivalent of crack-covered pancakes?

    --
    Village idiot in some extremely smart villages.