Sound management, HP
In April of 2010 HP paid $1.2 billion to acquire Palm. Palm was already on its deathbed so the only value from the acquisition of WebOS, a very clean and fluid operating system for smartphones. It had the potential to compete with Android and had a lot of potential. Yesterday HP decided to nix WebOS. It’s no longer sexy enough for HP to care about.
Now they have a new toy to play with: Autonomy. A software company in the UK. The price: A whopping $10 billion! That’s 11 times greater than Autonomy’s annual revenue of $870 million and represents about one-sixth of HP’s current market value and nearly all of the cash on hand HP had.
HP, you are going downhill fast! I’m not the only one that thinks that. Stock is down over 20% in one day. So long HP, it was fun while it lasted.
