Hewlett Packard Co. pitched the assets of Palm Inc., including the webOS software for $1.2B to potential buyers according to a new report by VentureBeat.

The report says HP asked for $1.2 billion for Palm Inc. assets, the same price it purchased the company for in 2010.

HP in Dec. said it will maintain the webOS division as open source software for developers and hardware manufacturers.

The webOS software, acquired from the purchase of Palm Inc., held lackluster demand on smartphones and tablets in global markets.

In Aug., the company discontinued sale of all webOS-based products, including HP TouchPad tablet, which subsequently held strong demand after a price cut to $99 for the 16GB SKU and $149 for the 32GB SKU.

HP said it will be an active investor and participant in webOS development.

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