{"id":546180,"date":"2010-04-28T16:47:09","date_gmt":"2010-04-28T20:47:09","guid":{"rendered":"tag:contentnext.com,2010-04-28:article\/419-hp-buys-palm-for-1.2-billion"},"modified":"2010-04-28T16:47:09","modified_gmt":"2010-04-28T20:47:09","slug":"hp-buys-palm-for-1-2-billion","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/546180","title":{"rendered":"HP Buys Palm For $1.2 Billion"},"content":{"rendered":"

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\n\t\t\t\t\t\t\t\t\t\"Palm
\n\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/p>\n

After all the speculation, HP has agreed to buy Palm (NSDQ: PALM<\/a>) for $1.2 billion, or roughly $5.70 a share.<\/p>\n

Palm, which was running short of cash and struggling to compete against the Apple’s and Google’s of the world, will now have HP’s deep pockets and worldwide scope. While HP is no stranger to the mobile phone world—with its line of iPAQ phones—it has a lot of catching up to do and could benefit from branching out to phones and tablets from its a laptop and PC driven line-up.<\/p>\n

Generally, Palm’s technology is viewed as solid, it was just poor timing that hurt the smartphone-makers’ chances. Of all the rumored potential acquirers from Dell to HTC and Huawei, HP was never considered a likely candidate. Palm\u2019s current chairman and CEO, Jon Rubinstein, who received a bit of flak for Palm’s recent poor performance, is expected to remain at the company. Release<\/a>.\n<\/p>\n

In a brief statement on Palm’s web site<\/a>, they point out that HP is one of the largest technology companies in the word, adding: “Can you say “webOS acceleration”? We\u2019re pretty excited, and pleased we surprised the world again.”<\/p>\n

Over the past year, Palm’s stock had been trading as high as $18 a share to more recent lows around $3-$4 for a total market capitalization of around $781 million. After a brief pause in trading, Plam’s stock surged 27 percent to $5.90 a share. The transaction has been approved by the HP and Palm boards of directors, but is still pending customary closing conditions and the approval of Palm’s shareholders. Under the agreement, Palm shareholders will get cash for each share. The transaction is expected to close during HP\u2019s third quarter ending July 31. <\/p>\n

HP will be hosting a live audio webcast for analysts and shareholders to discuss HP\u2019s agreement to acquire Palm. It can be found here<\/a>.\n<\/p>\n

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After all the speculation, HP has agreed to buy Palm (NSDQ: PALM) for $1.2 billion, or roughly $5.70 a share. Palm, which was running short of cash and struggling to compete against the Apple’s and Google’s of the world, will now have HP’s deep pockets and worldwide scope. While HP is no stranger to the […]<\/p>\n","protected":false},"author":2853,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,7],"tags":[],"class_list":["post-546180","post","type-post","status-publish","format-standard","hentry","category-mobile","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/546180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2853"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=546180"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/546180\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=546180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=546180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=546180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}