It’s pretty amazing what 1.2 billion dollars will get you these days. HP announced today that they will be purchasing Palm for exactly that, 1.2 billion. That equates to $5.70 per share. We don’t know much else at the moment, except that the hierarchy of Palm will remain intact. The deal will close on July 31st. Why this is so news worthy is because now HP owns webOS, which has been used in the Palm Pre, one of their more successful innovations of the last decade.
I’ll update the story once I find more information. For now, just realize that the foundation of the computer world has just been severely altered. HP can now use webOS for its netbooks, phones, and tablets moving forward. They will no longer need Microsoft, which is pretty shocking.