Struggling Palm has been bought out by Hewlett-Packard according to the HP website. This will allow HP to make a strong move into the Smartphone marketplace.
Palm shares closed Tuesday at $4.63 but after the announcement that HP would pay $5.70 per share have climbed over 25% to $5.83 in after hours trading.
Here’s the news release from HP:
http://www.hp.com/hpinfo/newsroom/press/2010/100428xa.html
