HP buys Palm
The two companies announced Wednesday that they have come to a definitive agreement for HP to buy Palm for about $5.70 per share of Palm common stock, for a total value of about $1.2 billion.
It’s a bit sad for Palm that there wasn’t even a bidding war of any kind.
Palm’s current chairman and CEO, Jon Rubinstein, is expected to remain with the company.
But as what? And why?
Anyway, we have a company which has manufacturing problems being bought by another company that makes crappy hardware. HTC would have been a much better suitor. Even Lenovo (my bet) would have been a better bet for Palm.
Anyone remember Compaq and the iPaq?
I don’t see this going anywhere fast. But I may be wrong. I have been before.