LG has reportedly bought WebOS from HP with the intention of using the operating system to power its new range of smart TVs. 

The operating system comes from the now-extinct Palm smartphones and was purchased by HP to use on tablets and phones. Apart from its use in HP's TouchPad, it has since disappeared into the ether.

LG's decision to pick up webOS means not only that televisions from the manufacturer could start using the operating system, but also that LG is licensed by HP to use its WebOS products. 

LG has also grabbed rights to the source code for WebOS as well as all of its related websites, engineers and documentation.

No word on how much the deal was worth: HP purchased WebOS for $1.2bn but we doubt LG paid quite that much. 

The purchase does appear to confirm rumours that LG was working on WebOS powered televisions. They should prove to be fairly exciting, as WebOS, despite its failings, is an interesting and well put together operating system.

Strangely, CNET, which originally covered the story, has now pulled it. A cached version is available here