Smartphone maker Palm’s long search for a suitor has reached a conclusion: the company is to be bought by HP for $1.2 billion. HP sees the acquisition as its way into the smartphone market, using Palm’s webOS software to launch phones, tablets and netbooks. Or, in corporatespeak: “Palm’s innovative operating system provides an ideal platform to expand HP’s mobility strategy and create a unique HP experience spanning multiple mobile connected devices”. Current Palm CEO Jon Rubinstein is expected to remain in his position. But the main thing about the deal is HP’s intention to become a big cheese in the smartphone space. Source: Press Release Source: TechCrunch

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