LG Electronics from South Korea acquires HP’s webOS operating system, relieving the smartphone software it got via a $1.2 billion bought-out of Palm in 2010. LG aims to use this software, that were used in Palm smartphones times ago, for its Smart or internet-enabled TVs. The South Korean base has worked with the seller before it jumped into acquiring it straight away.
As included in the conditions of their agreement LG buys the OS’ source code, related documentation, development expertise, connected various websites along with licenses that were HP’s intellectual property & patents including basic operating system and user interface technology. On the fronts of ownership of patents and technology that is associated with the cloud service of webOS, HP will retain them, revealed HP’s COO Bill Veghte in an interview.
“As we looked at it, we saw a very compelling IP that was very unique in the marketplace,” he added saying that his firm had a partnership with LG on webOS before the deal was declared.
“As a result of this collaboration, LG offered to acquire the webOS operating system technology,” Veghte said.
President and CTO, LG Electronics – Skott Ahn unveiled that the company will integrate this OS in its Smart TV line-up first “and then hopefully all the other devices in the future.”
All the talented WebOS team will remain in Silicon Valley for now and then will progress further to get their base outside of HP premises, Ahn added.