HP ACQUIRES PALM FOR $1.2 BILLION
I feel like slapping myself for not buying stock in Palm because HP just announced that they are acquiring them for $1.2 billion. After the Palm Pre and the Palm Pixi struggled to compete in the smartphone market, the fate of webOS was unclear.
“HP’s longstanding culture of innovation, scale and global operating resources make it the perfect partner to rapidly accelerate the growth of webOS,” stated Palm CEO Jon Rubinstein. Another winner in the acquisition news is Elevation Partners. Elevation is a major shareholder in Palm.