treocentral.com >>
Stories >>
Business
HP to Acquire Palm for $1.2 Billion
After the close of market today, HP and Palm announced that they have entered into a definitive agreement under which 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. The transaction has been approved by the HP and Palm boards of directors.
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.
PreCentral is doing a live blog of the acquisition conference call.
More details to follow.
There will be a special edition PalmCast Live Podcast tonight at 8pm Eastern. Go to PreCentral for details.
###
|
|
|
 |
