By Dow Jones Business News,
January 23, 2014, 05:30:00 PM EDT
By Tess Stynes
Qualcomm Inc. ( QCOM ) agreed to acquire a Palm, IPAQ and Bitfone patent portfolio from Hewlett-Packard Co. ( HPQ ), which
covers mobile operating system technologies.
The portfolio comprises roughly 1,400 granted patents and pending patent applications from the U.S. and about 1,000
granted patents and pending patent applications from other countries.
Financial terms weren't disclosed.
H-P acquired struggling smartphone maker Palm in 2010, ending the independence of a onetime mobile device pioneer that
was rapidly running out of prospects. Former H-P Chief Executive Leo Apotheker shuttered it in August 2011 after it
failed to gain traction and was eclipsed by devices that ran on software from Apple Inc. ( AAPL ) and Google Inc.
(GOOG). H-P recently moved back into the mobile market with the release of two large-format smartphones, initially
available in India starting next month.
Qualcomm has been one of the main beneficiaries of the growing popularity of smartphones, as it supplies wireless
processors for a broad range of customers that includes Apple and Samsung Electronics Co. (SSNHZ, 005930.SE), and
collects money from license payments tied to its technology.
Write to Tess Stynes at email@example.com
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