HP announced to acquire Palm for $1.2 Billion. This is quite a surprise as rumors did not mention HP as a potential buyer. We only heard about Lenovo and HTC.
HP will purchase Palm at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion.
Based on the statements in HP's press-release the company is planning to expand the HP mobility strategy with the help of Palm's technology. Additionally HP sees a lot of value in the Palm IP assets.
HP and Palm is actually a good fit. The HP sales channel is huge and I can imagine that HP is able to build a significant smartphone business based on Palm's webOS.
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