HP has just announced that it's acquiring Palm to the tune of $1.2 billion, which works out to $5.70 per share of Palm common stock. The deal is planned to close by July 31, which marks the end of HP's third fiscal quarter of the year.

Wow.  Honestly, the rumors of Palm's demise over the last few weeks has been floating around the Internet.  When I heard that Lenovo was considering making a purchase for the once beloved inventor of the "Palm Pilot", I kind of shrugged for a second about the possibilities and moved on with what I was doing.