HP to acquire Palm

HP and Palm, Inc.  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.

A sad end for one of the true innovators in the mobile/PDA industry.  In all likelyhood, another poor acquisition for HP too.

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