M&A Deal Summary

HP Acquires Palm

On April 28, 2010, HP acquired technology hardware company Palm from Elevation Partners for 1.2B USD

Acquisition Highlights
  • This is HP’s 18th transaction in the Technology Hardware sector.
  • This is HP’s 11th largest (disclosed) transaction.
  • This is HP’s 62nd transaction in the United States.
  • This is HP’s 17th transaction in California.
Investment Fate
  • Palm was divested to a consortium of strategic buyers in 2014.

M&A Deal Summary

Date 2010-04-28
Target Palm
Sector Technology Hardware
Buyer(s) HP
Sellers(s) Elevation Partners
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) Qatalyst Partners LP (Financial)

Target

Palm

Sunnyvale, California, United States
website
Palm, Inc. is a provider of mobile devices that enable users to access and share any information, anywhere. Palm has been a pioneer in mobile since its inception, with such innovations as the PalmPilot™ (the most successful PDA in history), Graffiti™ (a simplified alphabet to input letters into the PalmPilot), and Palm® webOS™ (the first operating system built exclusively for mobile use).

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Buyer(S) 1

Buyer

HP

Palo Alto, California, United States

website


Category Company
Founded 1939
Sector Technology Hardware
Employees51,000
Revenue 63.5B USD (2021)
DESCRIPTION
HP's corporate headquarters in Palo Alto, California.
HP's corporate headquarters in Palo Alto, California.

HP is the hardware successor to Hewlett-Packard Company. The Group focuses on providing hardware, printers, and personal computing products. The original Hewlett-Packard Co. dates back to 1939 and the new entity was formed in November 2015. HP was founded in 1939 and is based in Palo Alto, California.


DEAL STATS #
Overall 76 of 95
Sector (Technology Hardware) 18 of 22
Type (Add-on Acquisition) 69 of 86
State (California) 17 of 26
Country (United States) 62 of 75
Year (2010) 2 of 7
Size (of disclosed) 11 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-12 3Com

Marlborough, Massachusetts, United States

3Com Corporation is an enterprise networking solutions provider. 3Com has three global brands – H3C, 3Com and TippingPoint – that offer high-performance networking and security solutions to enterprises large and small. The H3C enterprise networking portfolio – a market leader in China – includes products that span from the data center to the edge of the network, while TippingPoint network-based intrusion prevention systems and network access control solutions deliver in-depth, no-compromise application, infrastructure and performance protection.

Buy $2.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-24 Melodeo

Seattle, Washington, United States

Melodeo, a Seattle-based start-up that specializes in music applications and services for mobile devices.

Buy $30M

Seller(S) 1

SELLER

Elevation Partners

Menlo Park, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 1.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Elevation Partners is a private equity firm that makes investments in media, entertainment, and consumer related companies. The Firm focuses on investing in intellectual property and content oriented businesses, as well as traditional media and entertainment assets. Elevation seeks to invest between $50 and $300 million in each transaction to help support growth and other initiatives. Elevation Partners was formed in 2005 and is based in Menlo Park, California with an additional office in New York City.


DEAL STATS #
Overall 3 of 7
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (California) 2 of 6
Country (United States) 2 of 6
Year (2010) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-27 Yelp

San Francisco, California, United States

Yelp is a web-based software platform that connects people with local businesses. Yelp allows users to review businesses and locate a variety of local services. Yelp was formed in 2004 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-02 Yelp

San Francisco, California, United States

Yelp is a web-based software platform that connects people with local businesses. Yelp allows users to review businesses and locate a variety of local services. Yelp was formed in 2004 and is based in San Francisco, California.

Sell -