HP announced that its plans to acquire Palm are now officially complete. And why is that good news for us? Because HP has not paused a beat in declaring their new plans of installing Palm’s Web OS in most of their gadgets.

After two months of talks and all the paperwork, Palm has finally become the property of HP with a $1.2 billion deal. Jon Rubenstein, CEO and Chairman of Palm and a former Apple exec will now be reporting to Todd Bradley, who is the executive VP of HP’s personal systems group. Yes, I know it is probably sad information for Palm fans, with the great winds of change they swept across the tech world. But, if you believe that patience is indeed a virtue, you might as well be asked to be connoisseur to a new revolution whirling through tech town.

What led HP to decide to possess palm was the gradual ouster of HP smartphones with Windows Mobile OS among consumers. In the statement released by HP regarding the deal, it also mentions that, “Palm will be responsible for webOS software development and webOS-based hardware products from a robust smartphone roadmap to future slate PCs and netbooks.”

Reportedly, HP has quite a few plans for Palm’s WebOS, including its use in smartphones and slate PCs. However, plans for further development of Palm’s Pre smartphone line are still alive and kicking. This makes us wonder though, if the earlier slate PC featuring Windows 7 showcased by Microsoft CEO Steve Ballmer in his 2010 keynote has been put on hold. HP carefully conjured a politically correct reply to this. “We are in customer evaluations now and will make a determination soon on the next steps. We hadn’t anticipated the Palm acquisition when we first shared our plans for that product.”