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HP Plans To Discontinue Touchpad

PALO ALTO, Calif., Aug. 18, 2011

HP reported that it would discontinue operations for webOS devices, specifically the TouchPad and webOS phones. HP will continue to explore options to optimize the value of webOS software going forward.

HP announced preliminary results for the third fiscal quarter 2011, with revenue of $31.2 billion compared with $30.7 billion one year ago.

Hewlett Packard also announced that it will purchase Autonomy for $42.11 per share, around $10.2B. The transaction has been approved by both HP and Autonomy.

[Source: HP.com]