Don't usually post "news as it's happening" events, but since I own a Pre, and am quite in touch with Palm, I think it's worth posting that HP has just aquired Palm for $1.2 Billion dollars. There is a conference call at 3PM MT with details on the purchase. My initial reaction is cautious optimism. HP has said that it wants to continue on with WebOS, and develop it more rapidly. My hope is that HP just pays the bills, and lets palm keep doing what it's doing, with an incresed budget. With HP behind them Palm can fix their dismal marketing campaign, get more solid hardware out there, and expand WebOS. This has the potential to really change Palm, and get HP into the mobile market in a way they haven't been in the days of the iPaq PDAs.
I will update this page throughout the evening as more info becomes available.