OMAP is a product line of "system on chips" developed by Texas Instruments.
OMAP is a family of system on chips (SoC's) developed by Texas Instruments. OMAP stands for Open Multimedia Application Platform and is designed portable multimedia applications. Generally an OMAP SoC includes a ARM processor and and at least one co-processor. Notable products using an OMAP processor include the Motorola Droid, Droid X and Palm Pre.
The official Texas Instruements website for OMAP can be found here.