HTC has officially announced a strategic partnership with Google worth $1.1 billion. While rumors suggested that Google was interested in buying HTC’s smartphone business, the deal focused specifically on the team at HTC which has been collaborating with Google in building its Pixel phones and a non-exclusive licensing agreement which would give Google direct access to HTC’s intellectual property.
Under the terms of the partnership, certain employees within HTC’s Pixel team will not be working for Google. At this time, there are still a lot of questions to be asked, but it looks like HTC will not be stepping out of the smartphone business anytime soon.
The influx of cash will definitely allow HTC’s executives to breathe a sigh of relief, but they still need to figure out a plan to get the company back on track and convince the public that their smartphones are still relevant.
Google and HTC Announce US$1.1 Billion Cooperation Agreement
Certain HTC Employees – Many of Whom Worked on Pixel Smartphones – to Join Google Google Receives HTC IP through Non-Exclusive Licensing Agreement
Transaction Reinforces HTC’s Commitment to Innovation and Its Branded Smartphone Business
MOUNTAIN VIEW, Calif. and TAIPEI, Taiwan – September 21, 2017 – Google (NASDAQ: GOOG, GOOGL) and HTC Corporation (TWSE: 2489) today announced a definitive agreement under which certain HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive US$1.1 billion in cash from Google as part…
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