Today HP announced that it had completed the Palm Acquisition and had plans to move forward in the smartphone and mobile devices arena. HP will use its WebOS platform on new tablets, netbooks, and smartphones. With the acquisition complete we expect HP to deliver some amazing devices in the near future, maybe they will be fast enough to have a prototype at CES? Who knows? What do you expect HP to deliver?
Full Press Release below:
HP Completes Palm Acquisition
Accelerates HP’s growth in $100 billion smartphone and connected mobile device markets
PALO ALTO, Calif., July 1, 2010
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.
“With webOS, HP will deliver its customers a unique and compelling experience across smartphones and other mobility products,” said Todd Bradley, executive vice president, Personal Systems Group, HP. “This allows us the opportunity to fully engage in growing our smartphone family offering and the footprint of webOS.”
Under Jon Rubinstein, former Palm chairman and chief executive officer, the Palm global business unit will report to Bradley. Palm will be responsible for webOS software development and webOS based hardware products, from a robust smartphone roadmap to future slate PCs and netbooks.
“With HP’s full backing and global strengths, I’m confident that webOS will be able to reach its full potential,” said Rubinstein. ”This agreement will accelerate the development of this incredible platform with new resources, scale and support from a world-respected brand.”