Google to acquire HTCs mobile division team
Posted on: 21/Sep/2017 4:10:35 PM
An official confirmation about the acquisition of Taiwan-based HTC is announced by Google. This is a $ 1.1 billion deal. The two companies have got into a definitive agreement according to which most of the HTC employees of which many of them are working on developing Pixel smartphones for Google will join Google itself.
In this agreement, Google will offer $1.1 billion to HTC as cash as a part of this transaction. A non-exclusive license for HTC intellectual property shall be obtained by Google in return. This transaction is subject to regulatory approvals and customary closing conditions. It is likely to get closed by the beginning of next year.
Speaking about this, Rick Osterloh, the Senior Vice President of Hardware said Googlers are amazing folks. They are in close association with Pixel Smartphone line and that their company is super excited about what they can do further as a team.
HTC will however continue making its own smartphones in spite of selling out a few of its mobile divisions to Google. HTC CEO Char Wang said this agreement will make sure about innovations throughout with HTC smartphone and Vive virtual reality business. Further, during the announcement, HTC also added details about working with its next flagship smartphone model after the launch of HTC U 11 in the beginning of 2017.
