Google agrees to acquire part of HTC’s mobile division team for $1.1 billion

Google agrees to acquire part of HTC’s mobile division team for $1.1 billion

Google announced it signed a definitive agreement with HTC on Thursday. 2,000 HTC engineers and technical staff who develop Pixel smartphones will join Google. Google will also receive a non-exclusive license for HTC intellectual property separately. The deal expects is expected to close by early 2018.

HTC will continue to run its remaining smartphone business. HTC said the agreement will allow it to concentrate more on smartphone and virtual reality business. The downsizing will also help them to reduce development costs.

HTC’s press release said that this agreement will ensure its innovation ideas. In fact, HTC reveals that the company is already preparing for its next flagship smartphone.

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