29 December 2011

HP Tried To Sell WebOS And Palm Assets Starting At 1.2 Billion Dollars Plus An Extra Condition, Gets Laughed At

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VentureBeat got the report and the story, which is linked as source at the end of the post.

No wonder HP was not able to sell it. Essentially, they wanted the same they had paid for Palm, while at the same time presumably retaining an option to have access to palm patents. This last bit from what i got from other rumors. Which must be the most out of their minds stupid price and deal they could have come up with. Even if the deal included some sort of cooperation from HP for that patent access. 

The reason is simple: Palm assets once the company was killed and absorbed and then disemboweled out of HP on the basis of commercial failure, instantly cuts the value to half. 

That means that if HP really wanted to sell it. The price they must had started at would had to be around 800 million USD, well knowing that they would be lucky if they managed to get 600 million. Even if according to Venture beat it was worth more like 400 million to 500 million. Ouch.

But i guess that in the grand scheme of things, recouping just 500 million out of 3 billion USD of losses was not really that much money for HP or worth the hassle. They may as well lose it all. At least that way they get the patents all for themselves. 

Yet another embarrassing move from HP. I think the most interesting fact of this news was that Facebook actually wanted to buy WebOS and Palm assets. Surprising, as Facebook was not even on the list of those that were rumored to have showed interest in it. 

 

Source: http://venturebeat.com/2011/12/28/hp-palm-sale-price/

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