The big news breaks and it was irresistible for me to keep away from not posting it. HP is set to purchase the smartphone manufacturer, Palm for $1.2 billion. A good news for all its fans after the manufacturer has taken one hit after another over time.
The fight will continue to strive to make the Palm OS survive the challenges put forth by the likes of Apple, Android, Nokia’s Symbian and the Windows Mobile, which have evolved rapidly with time. Palm’s webOS has not quite been able to surface high in the ranks and has continued to take a hit over time. HP on the other hand would add power in terms of its massive presence in the industry and bulk of finances to promote and more importantly improve of what remains of the Palm. Palm on the other hand would provide HP the right ingredients to invest in its mobile strategy, building on Palm’s unique OS.
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It appears the Russian investment firm,Digital Sky Technologies has got some real liking for investing outside the Russian border. Primarily in those that are known names across the Web. DST has been very active in making huge funding in prominent names like the social media platform, Facebook and also in the largest social gaming platform; Zynga [the producer of Farmville and Mafia Wars] worth $180 Million.
The interest in these firms has been enormous and it was bound to bag some other big names. The latest news is of DST acquiring AOL’s ICQ and that is a big move for AOL that had been looking forward to sell off many of its services and ICQ was one of them. The Russians have acquired the Desktop based chat client for $187.5 Million and the deal will be finalized by the third quarter.
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As the mobile devices grow better by the day, the need for web services to have their presence on the mobile space grows ever more important and they will do anything to expand there. Loopt, the mobile social network has acquired GraffitiGEO, the startup which made its launch not long time back. The startup puts together social networking on mobile devices with games and reviews. This acquisition will prove quite fruitful for Loopt given that GraffitiGEO is also pushing the accelerator to launch an applications catering to augmented reality, giving Loopt more product variety.