Yep, just hope they allow Palm to keep most of its independence and not just devour it into the greater HP juggernaught. The only thing I wonder is will this mean that new hardware will have to be scrapped so that they can integrate HP's hardward people to redesign things, and will this push it back another 6 months?
Levi Wallach blog: http://twelveblackcodemonkeys.com tweet me @dvdmon (http://twitter.com/dvdmon) On Wed, Apr 28, 2010 at 4:31 PM, <[email protected]> wrote: > I have to believe this is about the best outcome that could be reached > here. It is unlikely HP will shut down Palm. They will probably try to take > WebOS to other devices. And they will probably expand. Support may get worse > but beyond that looks like business will continue. And with HP behind it the > marketing should vastly improve. > > Edward Fultz > [email protected] > (978) 807-4225 > > ----- Original Message ----- > From: "Alli" <[email protected]> > To: "Treo Yahoo Groups" <[email protected]> > Sent: Wednesday, April 28, 2010 4:23:45 PM GMT -05:00 US/Canada Eastern > Subject: [Treo] HP buys Palm > > > > > > > PALO ALTO, Calif. & SUNNYVALE, Calif.--(BUSINESS WIRE)--HP (NYSE: HPQ - > News) and Palm, Inc. (NASDAQ: PALM - News) today announced that they > have entered into a definitive agreement under which HP will purchase > Palm, a provider of smartphones powered by the Palm webOS mobile > operating system, 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. > > "Palm's innovative operating system provides an ideal platform to expand > HP's mobility strategy and create a unique HP experience spanning > multiple mobile connected devices," said Todd Bradley, executive vice > president, Personal Systems Group, HP. "And, Palm possesses significant > IP assets and has a highly skilled team. The smartphone market is large, > profitable and rapidly growing, and companies that can provide an > integrated device and experience command a higher share. Advances in > mobility are offering significant opportunities, and HP intends to be a > leader in this market." > > "We're thrilled by HP's vote of confidence in Palm's technological > leadership, which delivered Palm webOS and iconic products such as the > Palm Pre. HP's longstanding culture of innovation, scale and global > operating resources make it the perfect partner to rapidly accelerate > the growth of webOS," said Jon Rubinstein, chairman and chief executive > officer, Palm. "We look forward to working with HP to continue to > deliver industry-leading mobile experiences to our customers and > business partners." > > Under the terms of the merger agreement, Palm stockholders will receive > $5.70 in cash for each share of Palm common stock that they hold at the > closing of the merger. The merger consideration takes into account the > updated guidance and other financial information being released by Palm > this afternoon. The acquisition is subject to customary closing > conditions, including the receipt of domestic and foreign regulatory > approvals and the approval of Palm's stockholders. The transaction is > expected to close during HP's third fiscal quarter ending July 31, 2010. > > Palm's current chairman and CEO, Jon Rubinstein, is expected to remain > with the company. > > [Non-text portions of this message have been removed] > > > > > [Non-text portions of this message have been removed] > > > > ------------------------------------ > > Yahoo! Groups Links > > > > [Non-text portions of this message have been removed]
