The agreement, which was agreed for undisclosed terms, will see LG buy the source code, associated documentation, engineering talent and related websites associated with webOS.
Originally designed as a smartphone and tablet operating system by Palm, HP took ownership of the webOS software after buying out the latter for US$1.2 billion (€900 million) in 2010.
LG said that the deal would help it to bring “internet services directly to consumer electronics devices,” and will ensure the continued development of the software, at the same time allowing HP focus its resources on other strategic areas of its business such as cloud computing.
Skott Ahn, president and chief technology officer of LG Electronics said the deal ”creates a new path for LG to offer an intuitive user experience and internet services across a range of consumer electronics devices,” with the firm specifically saying that it will support its next-generation Smart TV technology.
“Integrated with LG, this team will be the heart and soul of the new LG Silicon Valley Lab, focused on bringing innovative technology solutions to market through the most popular platforms for sharing and consuming content and experiences,” added Ahn.