Thursday, August 18, 2011

HP Confirms Discussions with Autonomy Corporation plc Regarding Possible Business Combination [… and kills Palm hardware]

RIP, Palm.  HP acquired Palm for ~$1.2B in April, 2010, and all that remains is a device OS that not even HP itself is going to use.  Perhaps we’ll next see Apple or Google buy HP’s collection of Palm patents…  I’m also guessing HP PSG EVP (and former Palm CEO) Todd Bradley may be “pursuing other opportunities” right about now.  Also see H.P. Plans Big Shift Toward Business Customers (NYT)

HP today commented on the recent announcement by Autonomy Corporation plc (LSE: AU.L). HP confirms that it is in discussions with Autonomy regarding a possible offer for the company.

HP also reported that it plans to announce that its board of directors has authorized the exploration of strategic alternatives for its Personal Systems Group (PSG). HP will consider a broad range of options that may include, among others, a full or partial separation of PSG from HP through a spin-off or other transaction.

In addition, HP reported that it plans to announce that it will discontinue operations for webOS devices, specifically the TouchPad and webOS phones. HP will continue to explore options to optimize the value of webOS software going forward.

HP Confirms Discussions with Autonomy Corporation plc Regarding Possible Business Combination; Makes Other Announcements

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