Following recent rumors that the Palm brand had been purchased by TCL Communications, parent company of Alcatel Onetouch, the acquisition has been made officially official.

TCL Communications CEO Georgo Guo confirmed to Phone Scoop that it has bought the Palm brand and is interested in bringing it back to life. “We are interested in this brand because we believe the brand has value,” Guo explained. TCL will use the Palm brand on new hardware, software, and services, but it plans to do so with a twist.

TCL plans to ask the mobile community to share its ideas with what products, software, and services the Palm brand should be applied to. Details of exactly how this’ll worked haven’t been cemented, but TCL does believe that it can restore Palm to its former glory. It’s worth noting that the return of Palm doesn’t mean that webOS smartphones will come back as well, though, as Guo explained that while he’s open to ideas, that “probably” doesn’t include webOS.

So it appears that the mystery of the Palm brand has been solved. Palm used to be a major name in the mobile space, but things have gone downhill in recent years. It’s interesting to see that TCL plans to bring the Palm brand back to mobile, and I’m sure that some folks are excited to learn that we’ll soon see Palm-branded smartphones once again. Of course, we don’t yet know exactly what these Palm products will be like or what they’ll be. But hey, Palm’s back!