HP Adds Palm For $1.2B In Bid To Enter Phone Fray

Law360, New York (April 28, 2010, 7:00 PM EDT) -- Hewlett-Packard Co. announced plans Wednesday to take over smartphone maker Palm Inc. for $1.2 billion, a move that would bring together two companies with advanced technologies that have struggled to make headway in the burgeoning market for advanced mobile devices.

According to a joint announcement from the two companies, HP will pay $5.70 cash per share for Palm, which has been unable to thrive in the smartphone market despite rave reviews for its WebOS operating system that powers its Pre and Pixi devices.

HP has also...
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