HP To Sell WebOS To LG

LG has agreed to acquire WebOS, the operating system software originally created by Palm, from Hewlett-Packard, CNET reports. LG plans to use the software not in smartphones, but rather in smart televisions.

According to CNET, the deal includes the source code for WebOS, related documentation and patents, engineering talent, and related WebOS Web sites.  Financial terms of the deal weren't disclosed.

LG emphasized that it has no plans to build WebOS-based phones.

HP had acquired Palm for $1.2 billion in 2010; the company built one generation of WebOS-based phones, but quickly abandoned the effort in the face of disappointing sales.