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 tess.stynes@wsj.com
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