isn't HP all in for windows based platform? Vishal Sheth
On Apr 29, 2010, at 2:01 AM, [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] > > [Non-text portions of this message have been removed] ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/treo/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/treo/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
