LG Electronics U.S.A., Inc. entered into a definitive agreement to acquire webOS Technology assets from Hewlett-Packard Company (NYSE:HPQ) on February 25, 2013. As part of transaction, LG will purchase the source code, associated documentation, engineering talent and related websites associated with webOS along with licenses under HP’s intellectual property for use with its webOS products. Under the terms of agreement, LG will assume stewardship of the open source projects ... of Open WebOS and Enyo, while Hewlett-Packard will retain ownership of all of Palm’s cloud computing assets, including source code, talent, infrastructure and contracts. The deal is not expected to have a material impact on either party’s financial statements.
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