#Google is buying a sector of #HTC’s smartphone team for $1.1 #Billion

After rumors, Google has officially announced that it has signed an agreement with HTC to acquire team of HTC talent for US$1.1 billion in cash. This includes some of whom have already been working on the Pixel smartphone line. The deal also includes a non-exclusive license for HTC intellectual property to support the Pixel smartphone family.

HTC said that it will continue to have best-in-class engineering talent, which is currently working on the next flagship phone. HTC will also continue to build the virtual reality ecosystem to grow its VIVE business, while investing in other next-generation technologies, including the Internet of Things, augmented reality and artificial intelligence.

Highlights of the agreement

• HTC will receive US$1.1 billion in cash
• Certain HTC Employees – Many of Whom Worked on Pixel Smartphones – to Join Google
• Separately, Google will receive a non-exclusive license for HTC intellectual property
• Transaction Reinforces HTC’s Commitment to Innovation and Its Branded Smartphone Business
• HTC will continue to have best-in-class engineering talent, which is working on next flagship phone
• Represents a substantial investment in Taiwan as a key innovation and technology hub

Source:FoneArena

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