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HP Palm Buyout Complete

by David Brooks | 01.07.2010
Palm and HP have announced that the buyout of Palm by HP is now officicaly complete – Palm are now owned by HP. We can now expect to start seeing announcements of new Web OS powered smartphones, printers, tablets and more. See below to read quotes from both Palm and HP:

From HP: “HP today announced it has completed its acquisition of Palm Inc. at a price of $5.70 per share of Palm common stock in cash.

The combination gives HP significant headway into one of technology’s fastest-growth segments with Palm’s innovative webOS platform and family of smartphones, plus a rich portfolio of intellectual property from the smartphone pioneer.

HP’s global scale and financial strength plus Palm’s award-winning webOS experience, as well as its acclaimed Pre and Pixi smartphone product lines, enhance HP’s ability to participate more aggressively in the highly profitable, $100 billion smartphone and connected mobile device markets.”

From Palm: “Today, Palm becomes part of the largest technology company in the world, HP. It’s our first day together, but it’s already abundantly clear to everyone who’s been involved in bringing the two companies together that great things are in store. The combination of Palm’s trailblazing webOS and HP’s strength as the leading provider of everything from PCs, laptops, and printers to home electronics and enterprise systems promises an amazing roadmap of new tools for your mobile and web-connected future.”

We’ll keep you updated with all the new Announcements from the new HP Palm.