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
- AT&T wants $100M data throttling fine thrown out
- Apple Music added to T-Mobile’s Music Freedom
- Report: Apple Music hits 10M subscribers
- Apple Maps vans landing in France, Sweden in August
- Report: Slimmer iPad mini 4 on the way, upgraded iPad Air 3 a possibility
- Beijing police bust massive iPhone counterfeiting operation
- Report: Apple interested in BMW i3 as ‘starting point’ for its own car
- Nike to offer customers cash in proposed FuelBand settlement
- Apple Watch coming to Best Buy on August 7
- iLounge Weekly coming Monday, subscribe now
- Ulak Lumenair for iPhone 6
- Apple iPod touch (Sixth-Generation)
- Ventev Powercell 3015c and Powercell 6000+
- Bowers & Wilkins P5 Wireless Headphones
- IK Multimedia iRig Mic Studio
- iClever Apple Watch Charging Stand
- TempTraq Wearable Bluetooth Thermometer
- JBL Clip+ Bluetooth Speaker
- Monk Magnet Wallet Case for iPhone 6 and iPhone 6 Plus
- Just Mobile TimeStand for Apple Watch
- Instant Expert: Secrets & Features of iTunes 12.2
- Instant Expert: Secrets & Features of iOS 8.4 + Apple Music
- CE Week 2015: IK Multimedia, Monowear’s Apple Watch bands + More
- Live From CE Week 2015: Brand New iPad, iPhone + Mac Accessories!
- A First Look at iOS 9’s Transit in Apple Maps
- Opinion: The ‘Grand Experiment’ of shifting to Google Photos
- 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?