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HP is supposdly to buy Palm for $5.70 a share in cash which is higher than its closing price of $4.64 today.
It is clear that HP is eyeing the smart phone mobile market and wants to compete more aggressively and a buy out of Palm is a jump start in that sector for HP.
Palm has been making smart phones and has been in the handheld market before that. HP is sure to use all the patents that Palm has filed in order to progress significantly in the mobile market.
Palm has been struggling to sell its Pre and Pixi smart phones. It was rumoured that HTC would be one of the companies to take over Palm.
Most of the HP’s mobile phone line runs on Windows mobile operating system and the company would release the Windows Phone 7 OS pretty soon.
Palm OS is something that HP would implement in its range of phones which will surely expand its market.