Palm is no more. That is the word from Wall Street after HP purchased 1.2 billion USD worth of common stock in Palm. Jon Rubenstein will apparently be staying around after the transfer is complete by the end of July. Palm was in serious financial peril over the last year and rumors of a potential buyout were rampant over the last several months. Soon to be former CEO Jon Rubenstein stated in several prominent publications that he would consider any offer. While Palm does not offer any industry leading devices for HP, it does offer numerous patents for HP to wield in its future endeavors in the mobile realm. Half of Palm’s patents are contested by other companies however, so it is not apparent how useful they will be to Palm. Anything can happen between now and the end of July, so goodbyes may be premature, but nevertheless, so long Palm and best of luck to HP in the future.
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