HTC makes a grab for Palm
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Palm, the forlorn stepchild of the smartphone world, has suddenly become the belle of the ball, with Lenovo and now HTC rumoured to be bidding for the company.
Apparently Peter Chou, CEO of HTC, has been involved in high-level meetings at CTIA, and the whole company is currently involved in due diligence, examining how the smaller smartphone maker will fit in in their structure.
HTC refused to comment on the rumours, while Palm’s CEO Jon Rubinstein said: "If there is a reasonable acquisition proposal, the Board will consider."
Palm is currently worth less than a tenth of HTC’s value, meaning it should be much less than a merger of equals, with HTC able to acquire the company just for cash. Palm’s rescue could be quite expensive however. HTC will however get a stash of over 1,650 patents, even more than Motorola has in the smartphone arena, making it simply the cost of doing business in the cut-throat smartphone world.
Read more at UDN.com here.
