HP completes $1.2 billion Palm acquisition : smartphone market

Category Business | Thursday, July 1st, 2010

Hewlett-Packard says it has completed its acquisition of Palm at $5.70 a share, or about $1.2 billion, paving the way for HP’s move into the smartphone market.

The deal, first announced in April, gives HP Palm’s webOS mobile operating system, which runs Palm’s Pre and Pixi smartphones. HP says that will help fuel its participation in a $100 billion market for smartphones and other connected mobile devices.

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