About this transaction
Ciesco Partner David McDonagh assisted on the HP purchase Palm, a provider of smartphones powered by the Palm webOS mobile operating system, at a price of $5.70 per share of Palm common stock in cash or an enterprise value of approximately $1.2 billion.
The combination of HP’s global scale and financial strength with at the time Palm’s unparalleled webOS platform that enhanced HP’s ability to participate more aggressively in the fast-growing smartphones and connected mobile device markets.
About Palm Inc.
Palm, Inc. creates intuitive and powerful mobile experiences that enable consumers and businesses to connect to their information in more useful and usable ways. The company’s groundbreaking Palm webOS platform, designed exclusively for mobile application, introduces true multitasking and Palm Synergy, which brings your information from the many places it resides into a single, more comprehensive view of your life.
About Hewlett Packard
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems.