News Summary: HP hands off webOS to LG Electronics

News Summary: Hewlett-Packard unwinds Palm acquisition with webOS sale to LG Electronics

Associated Press

UNRAVELING WEBOS: Hewlett-Packard Co. has sold webOS, a key piece of a $1.8 billion acquisition that has been largely forgotten since the company stopped using the software in smartphones and tablet computers in late 2011. HP bought Palm Inc. primarily because it thought webOS could help it compete in the mobile device market.

NEW HOME: South Korea's LG Electronics is buying webOS for an undisclosed sum. For starters, LG plans to embed webOS in a new line of Internet-connected televisions.

OTHER PIECES: The deal announced Monday also will transfer an unspecified number of webOS engineers to LG Electronics' payroll.

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