Palm has announced that it is being acquired by HP. The announcement came in the form of a HP Press Release and a posting on the Palm Blog.

"In case you didn't hear, we just announced a merger with a little shop down the street called HP. That little shop happens to be the world’s largest technology company, and certainly one of the most revered companies in all of tech-land. Can you say "webOS acceleration"? We’re pretty excited, and pleased we surprised the world again."

HP will pay $5.70 per share in a deal worth $1.2 billion. This seems to be good news for webOS but we'll see what happens. If they're able to provide better hardware we'll be happy.

How about a webOS Tablet device? Maybe the PreTab? Stay tuned...