Hewlett-Packard may be looking to sell webOS platform

November 8, 2011 06:00 PM

Maybe the guys from "Pawn Stars" are interested?

Citing four sources close to the matter, Reuters reported late Monday that Hewlett-Packard is looking to sell its webOS mobile software platform. H-P acquired webOS when it purchased Palm in 2010, and many believe that it will not be able to recoup the $1.2 billion it originally paid. Bank of America Merrill Lynch (BAC) will advise H-P as it looks to recoup its investment, which has been viewed by analysts and investors as an unsuccessful attempt to gain share in the mobile market.

The future of the unit was originally brought into question after then-CEO Leo Apotheker said the company was pulling the plug on its TouchPad tablet. New CEO Meg Whitman said the company is now considering bringing back a tablet offering, although it would be a completely different device. Several tech companies have reportedly expressed interest in buying webOS, which would likely be attractive because of its patent portfolio. Names which were mentioned as interested parties include: Amazon (AMZN), Research In Motion (RIMM), IBM (IBM), Oracle (ORCL) and Intel (INTC).

Hewlett-Packard (HPQ : NYSE : US$27.84), Net Change: -0.04, % Change: -0.14%, Volume: 17,408,227

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