Report: Apple Tried to Buy Palm

This image described by Apple, Google, RIM, Research in Motion, Palm_logo 


Back in April, HP bought Palm for $1.2 billion, but it turns out that they weren't the only ones interested.

When Palm was up for acquisition their bankers contacted 16 companies about the deal, reports Business Insider. Who were some of those contacted? According to Business Insider's source, Apple, Google and RIM (Research in Motion) were among those 16.

Their informant tells them that Apple's main goal was to grab the IP and patents, which Palm was reported to have at over 450 filed, more than 400 applications filed.

RIM, on the other hand, let the deal fall through, Business Insider's source says they "had to work incredibly hard to blow it."  RIM's bid was originally higher than HP, but HP raised their bid.

It's also reported that Google may have wanted to invest simply because rival Apple might want it. The story is that Google may not have known that Apple did bid, so didn't move forward with their Bid.

via Business Insider

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