TweakTown
Tech content trusted by users in North America and around the world
6,200 Reviews & Articles | 40,017 News Posts

HP acquires Palm for 1.3 Billion

Without it, inevitable death was on the cards

| Business, Financial & Legal News | Posted: Apr 29, 2010 8:22 am

It's been known for quite a while Palm has been struggling to keep its head above water and the marketplace tells the story pretty quickly they've been failing to compete at a required level to survive in the ever growing, fast paced smartphone world.

 

At this rate, the end of the road for the company is not all that far away unless something drastic takes place. And that's exactly what's just happened. HP has just announced it's swallowing them up for 1.2 Billion, working out to about $5.70 per share of Palm common stock.

 

TweakTown image news/1/5/15069_03.jpg

 

The deal is set to close on July 31 which is in timely fashion with the end of HP's Q3 fiscal year. From what is known this early on, Pam's CEO Jon Rubinstein is sticking with the company but how operations will change is anyone's guess at this point; it's all speculation.

 

NEWS SOURCES:Engadget.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases