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Palm was bought by HP

by Mary
May 17, 2010 at 2:10 pm

Just one week ago, Palm contacted no less than 16 companies, five of which came with offers of purchase.

HP is only mentioned in the documents (and the one who finally managed to buy Palm), the rest were symbolically denoted with A, B, C and D.

After several rounds of negotiations with major producers of electronics and IT market, Palm was bought by HP in late April, the transaction being valued at $ 1.2 billion.

The acquisition comes after major financial problems faced by Palm last year. For example, the losses in Q3 2009 were around $ 22 million.

In addition to the range of smart devices, HP has taken over and WebOS platform developed by Palm.

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