LG Electronics has acquired the software and intellectual property rights for webOS from HP. HP acquired webOS developer Palm for roughly $1.2 billion back in April 2012. After creating new smartphones and tablets using webOS, HP stopped making them due to weak sales. So HP decided to open source the operating system in December 2011.
Now that LG owns the operating system, the company plans to embed them into new smart TVs. LG launched their first connected TV back in 2007 with apps and gestures built-in. LG will have developers in their Silicon Valley labs work on webOS along with other teams in the U.S.