HP acquires Palm for $1.2 billion
HP and Palm have announced that they have reached an agreement for HP to purchase Palm at a price of $5.70 per share, or a total price of roughly $1.2 billion. The deal has been approved by both respective companies’ boards of directors. The announcement states that the “combination of HP’s global scale and financial strength with Palm’s unparalleled webOS platform will enhance HP’s ability to participate more aggressively in the fast-growing, highly profitable smartphone and connected mobile device markets. Palm’s unique webOS will allow HP to take advantage of features such as true multitasking and always up-to-date information sharing across applications.” Former Apple senior vice president and current Palm CEO and chairman Jon Rubinstein is expected to stay with the company; the move will put HP into direct competition with Apple in the smartphone category, where Palm’s Pre and Pixi smartphones compete with the iPhone.
“Palm’s innovative operating system provides an ideal platform to expand HP’s mobility strategy and create a unique HP experience spanning multiple mobile connected devices,” said Todd Bradley, executive vice president, Personal Systems Group, HP. “And, Palm possesses significant IP assets and has a highly skilled team. The smartphone market is large, profitable and rapidly growing, and companies that can provide an integrated device and experience command a higher share. Advances in mobility are offering significant opportunities, and HP intends to be a leader in this market.”
“We’re thrilled by HP’s vote of confidence in Palm’s technological leadership, which delivered Palm webOS and iconic products such as the Palm Pre. HP’s longstanding culture of innovation, scale and global operating resources make it the perfect partner to rapidly accelerate the growth of webOS,” said Jon Rubinstein, chairman and chief executive officer, Palm. ”We look forward to working with HP to continue to deliver industry-leading mobile experiences to our customers and business partners.”
- Apple in talks to acquire Pinterest rival The Fancy?
- Google intros Nexus 7, Nexus Q as iPad, Apple TV rivals
- Samsung releases app to ease iOS to Galaxy transition
- Apple, Time reach agreement on magazine sales
- Microsoft unveils Xbox SmartGlass; links console to iPad, iPhone
- New HTC handsets face import delay due to Apple
- Upcoming kit will allow developers to build native Apple Watch apps
- Apple may debut new ‘Proactive’ assistant with iOS 9
- Google Search will soon surface content from iOS apps
- iOS bug allows peculiar string of characters in Messages to reboot iPhones
- iOS 9 Transit feature to launch in select cities
- Report: iOS 9 to feature Force Touch support, updated keyboard
- Microsoft confirms Cortana coming to iOS this year
- Apple creates Chief Design Officer role for Jony Ive
- Report: iOS 9 will bring new security features, improve legacy device support
- Report: Apple’s push for local content may delay Apple’s TV service
- Griffin WatchStand for Apple Watch
- Apple iPhone Lightning Dock
- Witti Notti and Dotti
- PhoneSuit Elite 6 and Elite 6 Pro Battery Case for iPhone 6 and iPhone 6 Plus
- Wren V5US Speaker
- Skech Base for iPad Air 2
- Anova Culinary Precision Cooker
- Phiaton MS 100 BA Earphones
- Olloclip Ollocase for iPhone 6
- AKG Y50 On-Ear Headphones
- Will removing a credit card from Safari also remove it from Apple Pay?
- Can I mute Handoff calls coming into my Mac from my iPhone?
- How do I keep my iPhone calls from ringing on my Mac?
- Why doesn’t Traffic show up on my Today Notifications Screen?
- Why doesn’t my iPhone reconnect to Wi-Fi after I turn it on?
- Why can’t I see the iPad-style landscape view on my iPhone 6 Plus?
- Is there a point to having both iCloud Photo Library and iCloud Photo Stream enabled?
- Why can’t I set a longer passcode timeout on my iPhone 6 Plus?
- Can I turn off Message Read Receipts for only some users?
- How do I share one iCloud Photo Library within a family?