Qualcomm acquires Palm from HP

HP CEO Meg Whitman (image: Shutterstock)

Chip maker Qualcomm Incorporated and HP today announced that Qualcomm Incorporated has acquired a patent portfolio from Hewlett-Packard Company, Hewlett-Packard Development Co LP and Palm Inc.

HP CEO Meg Whitman (image: Shutterstock)
HP CEO Meg Whitman (image: Shutterstock)

The portfolio, comprising approximately 1,400 granted patents and pending patent applications from the US and approximately 1,000 granted patents and pending patent applications from other countries, covers technologies that include fundamental mobile operating system techniques.

The move comes after HP announced it would purchase Palm at $5.70 a share for $1.2 billion in an all-cash deal in 2010. But in 2011, the company introduced a series of webOS devices under the name HP, and said that they would be discontinuation of the “Palm” brand.

According to the company, the acquisition further enhances the strength and diversity of Qualcomm Incorporated’s mobile patent portfolio and will enable the company to offer even more value to current and future licensees. The purchase price was not publicly disclosed.

Qualcomm Incorporated specialised in 3G, 4G and next-generation wireless communications technologies. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT.

Staff writer