Palm, which originated in 1996 by introducing Pilot, became the world's most personal embodiment of technology, sparking the mobile-computing revolution.

The journey then began, which astonished the cell phone world with its various offerings like the Palm V, the Treo™ phone, the Centro™ phone and the more recent Palm Pre and Palm Pixi.

Well from quite some time, rumours about Palm's acquire circulated in media, where big players like HTC and Lenovo were supposed to avail the deal. But to everyone's surprise, HP came out to be the beneficiary and became the highest bidder by quoting the acquisition price for around 1.2 billion US dollars.

But hold on, the resources are saying that the webOS with all its potential will be retained, hence no need to worry about that. Besides this, Jon Rubinstein, the Chairman and CEO of Palm Inc will still remain part of the company even after the acquisition who has started his career at HP.

As of now, 5.70 US dollars per share has been paid, where the further details will be officially revealed  soon.