According to multiple reports, LG is poised to buy webOS from HP. Developed by Palm, webOS was well-regarded when it launched, but never gained traction against Android and iOS. The mobile operating system, along with the rest of Palm, was purchased by HP and promptly discarded when Leo Apotheker took over as CEO of HP.
LG will reportedly acquire the webOS source code, remaining webOS employees, patents and more in the deal. Terms of the sale were not disclosed. LG will allegedly use the mobile OS to power the software running on their smart TVs. Both LG and HP are remaining tight-lipped on the deal, which was neither confirmed or refuted by either company.
CNET first reported this acquisition, but later pulled its story. AllThingsD confirmed with its own sources that the information is accurate. A formal announcement is expected later today.
[Via CNET, AllThingsD and The Verge]