Palm shareholders approve HP takeover plans

Palm shareholders approve HP takeover plans

Summary: Palm stockholders at a special meeting on Friday approved plans for the company's acquisition by HP, according to an SEC filing.

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Palm stockholders at a special meeting on Friday approved plans for the company's acquisition by HP, according to an SEC filing.

The transaction is expected to close on 1 July, according to the filing.

The companies announced in April that computer giant HP would buy the struggling smartphone maker for $1.2bn (£788m). The deal then had already been approved by both companies' boards of directors.

HP has long touted Palm's appealing IP portfolio and says it has plans to put Palm's WebOS on tablets, smartphones, web-connected PCs.

For more of this story, read Palm shareholders approve HP takeover plans on CNET News.

Topics: Mobility, Banking, Enterprise Software, Hardware, Hewlett-Packard, Smartphones

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16 comments
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  • RE: Palm shareholders approve HP takeover plans

    Ho hum. Nothing new. HP is once again acquiring assets after those assets have lost too much value to be viable. If it weren't for the printer business, HP would have gone under years ago. Palm will live-on a few more years but it will conitnue to be a long downhill slide for both companies.
    M Wagner
    • RE: Palm shareholders approve HP takeover plans

      @mwagner@...

      I just got a PALM and I am really impressed with the interconnectivity of the smart phones.

      Synchronized Contact, Web Based documents...

      What do I know, but looks to me that this is the future of information sharing.

      PALM should be a nice addition to HP and maybe my PALM will even get new "features"
      jacquescherrier
      • RE: Palm shareholders approve HP takeover plans

        @jacquescherrier I have had 3 different Palm devices - the latest of which is a Pre - was impressed until they started failing - I agree interface and interconnectivity is great.

        But seriously - backup frequently - everything IS NOT backed up to your profile and if the touchscreen fails (as my 5th Pre just did Saturday) - you will regret not having everything backed up because there is NO keyboard override for menus. You can launch apps - but you can't do anything in them or close them once they are launched... Good luck to you!
        therealme2006@...
    • RE: Palm shareholders approve HP takeover plans

      @mwagner@... ??? the printer business? Have you ever been a hospital? you think its printers that keep them alive?
      I don't think so.
      jwdauer
  • RE: Palm shareholders approve HP takeover plans

    @mwagner@... "If it weren't for the printer business, HP would have gone under years ago." Do you have any idea about what HP does? They make tons of high-end industrial electronic equipment like oscilloscopes and voltage generators, not to mention the fact that many of your daily exploits on the web have gone through HP servers, switches, and routers (Cisco isn't the only company who does that stuff). HP also does a lot of IT consulting, on top of selling desktops, workstations, laptops, scanners, and yes, lots and LOTS of printers. Saying that all HP does is printers is like saying all Honda does is make motors. They do more than just print.
    Maverick842
    • RE: Palm shareholders approve HP takeover plans

      @Maverick842
      Not to disparage your comments, but the HP Switching infrastructure within thier Blade Servers and some of the other offerings on the mid to high end ARE Cisco. Just rebranded, much like the same from other competetors.
      GDoC
  • misinformed

    take a look at the month of june alone...then add palm purchasehttp://www.hp.com/hpinfo/newsroom/
    clutch1222
  • RE: Palm shareholders approve HP takeover plans

    HP has always been the top of the line at industrial and laboratory equipment. When i was a bench chemist you simply could not have asked for better analytical equipment including the midi computers to integrate the signals into a total lab management computer system. HP was and still is the berries.
    frj111@...
  • I guess I own my last Palm product

    I have owned a Palm Centro for nearly three years now and have been relatively satisfied with it. Were it not for HP acquisition of Palm, I probably would have bought another Palm when time came for replacement. In 6 months time, HP will have palm products as dysfunctional and unreliable as Motorola. Would have been much better deal for the customer if Palm had bought HP consumer product market.
    john3347
  • RE: Palm shareholders approve HP takeover plans

    Perhaps now Palm will start producing more durable products. My 3 month old Palm Pre Plus needs to be replaced due to touchpad issues. I hope you make it Palm. I have been a loyal consumer since 1999 and look forward to being able to hotsync with Outlook 2007 and streaming audio.
    adler911@...
    • RE: Palm shareholders approve HP takeover plans

      I agree completly. You now have to pay to get what has been included FREE since the birth of PALM : basic direct sync (via cable, IR, Bluetooth) with Outlook PST sitting on my PC.
      mmb@...
  • RE: Palm shareholders approve HP takeover plans

    HP had better worry about keeping the palm owners happy very fast.How many'smart' phones out there dont have voice reco dialing? 1 the Palm Pre ,and thats only 1 glaring short coming of their phones.But HP laptops and desktops are junk already so-I dont see the CONSUMER hardware improving
    GEOD998
  • Palm - A Bridge too Far...

    I too have been a loyal Palm user since their second model of the Palm Pilot. Alas, my trusty Palm TX is getting rather long in the tooth and the market has killed PDAs in favour of SmartPhones. I will reluctantly make the shift, but have spent the last six months looking to see what may fulfill my needs without storing MY DATA on a vendor's servers.

    Unfortunately Palm broke the first rule of outsourcing: Don't outsource your core business. By the time they were able to realise and build the new WebOS, time had passed the Palm by. I'm glad HP has bought them because clearly Palm management have lost their way. Will it be too little too late? Time will tell. I think the WebOS is probably the best SmartPhone OS, but the lapsed time has lost the application following in the interim and an OS without apps is useless.

    Still looking.... Hang in there my trusty TX. (BTW I still have a DumbPhone, and it mostly works just fine.
    david.hunt@...
  • RE: Palm shareholders approve HP takeover plans

    @GDoC@ Yeah, but HP is the one who built/provided the hardware to the companies, regardless of who made the hardware that went to HP.
    Maverick842
  • RE: Palm shareholders approve HP takeover plans

    I think HP has their fingers in more pies than most people realize. They have a facility a few Km's north of where I live and it has more security than Fort Knox. No idea what they do there but I can guarantee it's not a manufacturing plant. Makes one wonder.
    Mike062
  • With interest

    I read all of the above and with great interest.

    From my angle, Collaborative initiatives (data sharing, interconnectivity, auto-synch...) is one of the key near term Information Technology advents on this Planet.

    I guess HP needed something in the Smart Phone segment and I wish them luck.

    I also my PALM to resist all my touchtonings. Hope PALM engineers follow this blog.
    jacquescherrier