HyperSpace is a cut down version of Linux that allows users to surf the web, view digital images or check email seconds after switching on a PC.
It has been designed for netbooks, laptops and desktops and is being touted as a method to have a quick look at your email and the world wide wibble.
HP will also buy the assets surrounding HyperCore, an embedded hypervisor that allows HyperSpace to run certain core services along with the Windows OS.
It is fairly clear that HP wants the technology to work alongside its WebOS which it bought as part of the Palm deal. WebOS is based on Linux so Palm might want HyperSpace technology to speed up boot times on everything that runs its new OS.