April 29, 2010
Palm is no more as HP takes over for $1.2 Billion
It’s been quite a slide downhill for Palm and HP are the ones who have slowed them down from potentially reaching rock bottom. The company has bought over Plam and the price they settled on was $1.2 Billion. That amount translates to about $5.70 per share of Palm stock. I see this as good thing, as this could help HP gain a firm footing into the mobile segment now and perhaps with the help of Plam’s webOS, the next mobile handset we see from come forth from this new scenario could be quite a big deal, if that’s even the direction HP intends to go in. Officially the deal will be sealed by July 31 2010. The Current CEO of Palm, Jon Rubinstein could be staying on.