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HP Completes Palm Acquisition

Hewlett-Packard has completely acquired Palm following the approval of the latter’s shareholders. The deal price reportedly amounted to US$1.2 billion, or $5.70 per share of the Palm common stock, paid in cold cash.

Former Palm chairman and CEO Jon Rubinstein will transfer Palm’s global business unit to Todd Bradley, EVP of the Personal Systems Group at HP.

HP reps say that the company intends to make use of Palm’s innovative webOS platform and its smartphone line, so expect a bunch of webOS-based PCs, netbooks, and probably even printers, in the coming months.

Source: TechCrunch

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