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Palm contacted Huawei about acquisition back in February

Posted: , by John V.

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Palm contacted Huawei about acquisition back in February
Huawei may not be widely known here in the US, but they surely have the recognition around the world to supplant itself as a major player in the mobile market. Here in the US, they've mostly kept their name hidden in certain devices like the T-Mobile Tap that offered the convenience of a touchscreen phone with an entry-level price. According to Reuter's source that was speaking on the condition of anonymity, apparently Palm contacted Huawei back in mid-February in regards to “preliminary discussions” about a possible acquisition. Even though talks surrounding the two have not moved forward since then, it still doesn't throw out the possibility of it happening as Palm continues its quest on finding a suitor. In response to the news surrounding a buyout, the company said in a statement, “As a matter of policy, Huawei does not comment on speculation about possible mergers or acquisitions. Huawei is always open to consider opportunities that will further enhance its business development.” The list of suitors are always growing and leads to the realization that there is no denying at this point that Palm is aggressively looking for a buyer. As for Huawei, they would be required to pony up approximately $1.3 billion in order – the price to hold Palm's patent portfolio into its own.

source: Reuters

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