Skip to main content

Google to acquire part of HTC’s smartphone business for USD 1.1 billion

 


Google to acquire part of HTC’s smartphone business for USD 1.1 billion


21 Sep. 15:50

Tech giant Alphabet Inc’s Google has signed an agreement with HTC to buy a division of the Taiwan-based smartphone major's business for USD 1.1 billion, the companies announced on Thursday.

Under the deal, Google would pay $1.1 billion to HTC Corp for the division that develops the US firm’s Pixel smartphones. The deal would include HTC employees who worked on Pixel smartphone and intellectual property rights, the two companies said in a statement, without disclosing the number of staff involved.

"HTC will receive USD 1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property (IP)," the statement said.

This agreement will help HTC to focus on enabling a more streamlined product portfolio, greater operational efficiency and financial flexibility.

"In addition to the talented and experienced team of professionals, Google will continue to have access to HTC's IP to support the Pixel smartphone family," it said.

The agreement is a testament to the decade-long strategic relationship between HTC and Google around the development of premium smartphones, both companies said. 

"With this agreement, a team of HTC talent will join Google as part of the hardware organization. These future fellow Googlers are amazing folks we’ve already been working with closely on the Pixel smartphone line, and we're excited to see what we can do together as one team. The deal also includes a non-exclusive license for HTC intellectual property," Rick Osterloh, Senior Vice President of Hardware at Google said in a blog. 

“HTC has been a longtime partner of Google and has created some of the most beautiful, premium devices on the market,” he said. “We're excited and can't wait to welcome members of the HTC team who will be joining Google to fuel further innovation and future product development in consumer hardware.”

Cher Wang, the Chairwoman and CEO of HTC, said the agreement will enable Google to supercharge their hardware business while ensuring continued innovation within HTC's smartphone and VIVE virtual reality businesses. "We believe HTC is well positioned to maintain our rich legacy of innovation and realize the potential of a new generation of connected products and services.”

The agreement also marks a significant investment by Google in Taiwan as a key innovation and technology hub.

The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close by early 2018.

Comments

Post a Comment

Popular posts from this blog

Check out the Nokia 2, a budget phone with a monster battery

Android Authority Check out the Nokia 2, a budget phone with a monster battery 19 hours ago HMD Global  is slowly building up its portfolio of stock-Android-running smartphones. In addition to the trio of mid-rangers (Nokia 3, 5, and 6)  it launched at MWC , the company bolstered its high-end with the  Nokia 8 , and now the other side of spectrum is getting some attention. Just  leaked by Evan Blass , the Nokia 2 looks… well, like a generic cheap phone. If you have a visceral hate of bezels, you’ll probably want to close this post and move on, but design is hardly the point here. Blass didn’t share any details about the Nokia 2, but we can make some educated guesses based on some other clues we’ve got about the phone. First, you might have noticed that the phones in the leaked renders show October 5 as the date. Dates in renders are often set to match the launch time, but this could be an old render and there’s still time for things to change. Read more Han...
Post a Comment
Read more

How safe are our kids in schools?

TOI How safe are our kids in schools? 7 hours ago by Praveen Lenka   Whatsapp Facebook Google Plus Twitter Email Linkedin SMS SHARE HIGHLIGHTS Parents’ Suggestions Feedback from parents should be taken in the right stride by school authorities. PTA should have more authority and a right to put their points across in all school matters, especially when it comes to the safety of their children. No child, especially small kids, should be allowed to go alone to the washroom. There should be zero tolerance for non-compliance with child safety guidelines. Official authorities should conduct regular checks in schools to ensure that they have implemented safety measures. Schools should take the help of professional counsellors/psychologists to interview potential recruits. Over the past two days, twin incidents of students getting assaulted in their school premises have been reported from the National Capital. Close on...
Post a Comment
Read more

THE LOST WORLD ( CHAPTER 12)

CHAPTER XII "It was Dreadful in the Forest" I have said—or perhaps I have not said, for my memory plays me sad tricks these days—that I glowed with pride when three such men as my comrades thanked me for having saved, or at least greatly helped, the situation. As the youngster of the party, not merely in years, but in experience, character, knowledge, and all that goes to make a man, I had been overshadowed from the first. And now I was coming into my own. I warmed at the thought. Alas! for the pride which goes before a fall! That little glow of self-satisfaction, that added measure of self-confidence, were to lead me on that very night to the most dreadful experience of my life, ending with a shock which turns my heart sick when I think of it. It came about in this way. I had been unduly excited by the adventure of the tree, and sleep seemed to be impossible. Summerlee was on guard, sitting hunched over our small fire, a quaint, angular figure, his rifle across his knee...
Post a Comment
Read more