LG Electronics, the Korean consumer electronics giant, said on Monday it has acquired the webOS operating system from HP, which the company plans to use in its next generation of smart TVs. Financial terms of the deal were not disclosed. HP gained the platform in 2010 as part of its $1.2 billion acquisition of Palm. LG will gain access to the source code, documentation, engineering talent and related websites associated with webOS. Also as part of the deal, LG will receive licenses to use HP’s webOS products, including patents acquired from Palm covering fundamental operating system and user interface technologies now in broad use across the industry. Skott Ahn, the president and CTO of LG Electronics, said the acquisition demonstrates his company’s “commitment to investing in talent and research in Silicon Valley,” and will allow LG to offer “an intuitive user experience and Internet services across a range of consumer electronics devices.” Read more.