HP has just bought Palm for $1.2-billion, according to Brian Humphries, HP’s Senior VP of Strategy and Corporate Development. Sources working on the deal say that “HP plans to be ‘doubling down on webOS,’ and that was confirmed in speaking with Palm’s honcho, who says that “that was the whole point.”

Not only that, but we’ve confirmed on both ends that Jon will be staying on with the company, along with much of the existing Palm hierarchy.

[via Engadget]