Monday, November 7, 2011

HP Looking to Sell WebOS for 'Hundreds of Millions'






HP is considering whether or not it should sell webOS to an unknown suitor for hundreds of millions of dollars, reports Reuters, citing four sources familiar with the matter. HP acquired webOS when it closed its acquisition of Palm in July 2010. It paid $1.2 billion for Palm. HP has been unable to capitalize on the mobile operating system developed by Palm, and in August of this year decided to shutter its webOS-based smartphone and tablet businesses. Reuters reports that several companies are interested in webOS, including Oracle, though probably for the patents that are part of the operating system and not for the platform itself. Bank of America Merrill Lynch is advising HP on the deal. HP and Bank of America declined to comment on Reuters' story.
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