Palm takes its last breath alone as HP swoops in & buys them
After being courted by companies like Lenovo, HTC, and even Huawei, there was no denying that Palm was spiraling downwards faster despite the fact that Palm CEO Jon Rubinstein insisted that the company could survive on its own. The acquisition of Palm surely came in at a minimum cost for the dominant company who is undoubtedly at the top of their game. Buying Palm for a mere $1.2 billion, some would consider HP making out big time on the purchase considering that Palm's stock was once valued close to $14 per share over a year ago. Under the terms of the merger agreement, current Palm shareholders will be given $5.70 for each share. Although there are some talks right now regarding the future of Palm, Jon Rubinstein looks to stay put with the company while the deal is expected to finally close by July 31.
Almost instantly, HP is catapulted into the limelight and their presence will undoubtedly be felt far and wide as they quickly acquire all of Palm's assets – which includes their patent portfolio, device hardware, and webOS. So the question left answered is what HP intends to do now that they've acquired the venerable smartphone maker? Whichever road they choose to go, we're sure that HP will utilize the technology that Palm has built up from the ground up and integrate it in a medley of devices ranging from smartphones, tablets, computers, and everything else in between.
Palm's expertise in touchscreen technology and webOS could become useful for HP as they plan to compete on a grand scale among the premier cell phone manufacturers out there. It's almost ironic looking back earlier in the decade when HP was one of the companies to back Microsoft's Pocket PC platform in the hopes of being a clear competitor to Palm's reign in the PDA market. Ultimately, HP is definitely reinventing themselves with this and we look forward to see how they will be able to translate this purchase into a profitable reign for them.
1. rshackindian (Posts: 21; Member since: 11 Apr 2009)
this is an awesome marriage, webOS on an HP smartphone; let the greatness begin!!!
9. Kiltlifter (Posts: 742; Member since: 11 Dec 2008)
Hell yes! And if they keep Rubinstein heading up the mobile division... just imagine the possibilities. I for one attribute most of apple's current success to the iPod which was his invention. Now he can help support HP's mobile line, maybe develop an awesome music player, collaborate with applications for the slate... I see good things, and I am excited for HP and Palm on this one.
12. E.N. (Posts: 2362; Member since: 25 Jan 2009)
This is not a success story. It's not suppose to be good news. I personally think Jon Rubenstein failed. He was all Mr. Big Man when he left Apple and now look at his company now.
16. belve14 (Posts: 113; Member since: 31 Mar 2009)
I have to disagree with you...he walked into a mess and tried his best to help but when something is on the verge of breaking down completely one person is not going to bring it back up again. Not to mention he probably has alot of money but not enough to bring an entire industry back to life lol.
2. shimmyx20 (Posts: 280; Member since: 03 Mar 2009)
This looks like great news for the companies, and ultimately consumers. I can't wait to see what new Web OS devices they come out with.
3. networkdood (Posts: 6326; Member since: 31 Mar 2010)
About t ime...PALM now has a chance to thrive - I took a look at SPRINT's PALM PRE, and I have to say, it is actually a nice phone - imagine that phone with a 4 inch screen and 1Ghz processor???
4. artz1986 (Posts: 453; Member since: 11 Mar 2009)
Wowww, I wasn't expecting HP, but does this mean we'll see WebOS on HP laptops? Probably a tablet w/ WebOS?
6. zerglisk (Posts: 544; Member since: 09 Feb 2010)
Wow, now there are definitely more selection for smartphones... HTC, Sony, Samsung, LG and now HP!? Just not apple!!! haha
8. wade1968 (Posts: 224; Member since: 12 Apr 2010)
no but buying palm wont increase hp lack of customer service. have you tried talking to an HP rep to get help with your computer. i would rather have seen someone in palm step up and point them in a new direction then just to give up.
10. Kiltlifter (Posts: 742; Member since: 11 Dec 2008)
I actually had a good experience with HP tech support like 3 years ago. My one and only, the rep from india was great... but from what I hear and I am the exception to the rule.
11. sellerc (Posts: 2; Member since: 28 Apr 2010)
I've actually had excellent customer service with HP. Used the chat feature on their website to get help with a hard drive crash on my wife's laptop. I received a return package a day later and got the computer back in a week. No questions, no hassle. They even recommended a way to recover the data on the crashed hard drive. In my experience, Dell has the worst customer service in the industry, right up there with Sprint. I dare you to name one PC manufacture with better customer service.
13. Vegas89 (Posts: 51; Member since: 15 Mar 2010)
Interesting.....I can't wait to see what comes out of this
15. belve14 (Posts: 113; Member since: 31 Mar 2009)
Wow this should be good for both companies and it should def be interesting in what crazy ideas they might come up with...
17. Jeradiah3 (Posts: 1009; Member since: 11 Feb 2010)
I'd like to see what HP is gonna do to improve Palm and vice versa. i think tht palm can benefit from this