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+ - HP Buys Palm for $1.2bn->

Submitted by hazmat2k
hazmat2k writes: After all the speculation, HP has agreed to buy Palm (NSDQ: PALM) for $1.2 billion, or roughly $5.70 a share.

Palm, which was running short of cash and struggling to compete against the Apple’s and Google’s of the world, will now have HP’s deep pockets and worldwide scope. While HP is no stranger to the mobile phone world—with its line of iPAQ phones—it has a lot of catching up to do and could benefit from branching out to phones and tablets from its a laptop and PC driven line-up.

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HP Buys Palm for $1.2bn

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