HP Selling webOS to LG Electronics

Before you go, we thought you'd like these...
Before you go close icon

Korea's LG Electronics has acquired the webOS operating system technology from Hewlett-Packard , both companies announced in a joint press release today. The OS was designed for the Palm line of mobile devices, which HP acquired in 2010 for $1.2 billion. LG will use webOS to power software for its televisions.

In addition to acquiring the source code for the operating system itself, LG will also gain "associated documentation, engineering talent and related websites" connected with it.  HP will hold on to patents related to the technology, which LG will utilize on a licensed basis.

According to the two firms, the move "paves the way for continued innovation on the webOS platform and on LG's roadmap of innovative solutions for many years to come, while allowing HP to focus its resources on strategic business opportunities such as cloud computing."


The terms of the deal were not disclosed.

The article HP Selling webOS to LG Electronics originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners