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

Popular posts from this blog

Samsung Bendable Smartphones “Galaxy X” is set to launch in 2018 for South Korea!

  Samsung Bendable Smartphones “Galaxy X” is set to launch in 2018 for South Korea! 25 Sep. 18:26 Samsung Bendable Smartphones “Galaxy X” is set to launch in 2018 for South Korea!  :- Well, Samsung is all set with their new gadget and they are going to release Samsung Bendable Smartphones in the market. As per the reports, Samsung Bendable Smartphone ‘Galaxy X’ is all set to release in the upcoming market. We have seen many design revolutions this year in the form of Galaxy S8 and iPhone X. Now, the company is all ready and going to make some big ups in the market. Samsung’s long-awaited foldable display smartphone speculated to be called the Galaxy X, might debut soon. As per the reports, the device’s model number SM-G888N0 has recently appeared in a filing from the Korean National Radio Research Agency (NRRA), according to Lets GoDigital. We are sure that you all are going to love this handset and surely going to...

New carp species to extend scale of GM produce

  New carp species to extend scale of GM produce 2017-09-14 06:42:38 Scientists say the development will provide more resources and help to strengthen food security, as Zhang Zhihao reports. While giant genetically modified Chinese carp may leap onto the nation's dinner tables in about two years, scientists are urging that the promotion of GM fish should be conducted slowly and meticulously to avoid a public pushback. The development of GM fish will have great economic value, protect national food security and help build sustainable agriculture, according to Wang Yaping, a researcher at the Chi-nese Academy of Sciences' Institute of Hydrobiology, speaking in an exclusive inter-view with China Daily. In early August, Canadian supermarkets became the first in the world to sell a fast-grow-ing GM salmon developed by AquaBounty Technologies, a biotech company in the US. However, few people realize that in 1983 China was the first country to produce transgenic fish calle...

The Bose headphones with Google Assistant are official now

The Bose headphones with Google Assistant are official now Push for Google  Sep 21, 2017, 8:00am EDIT Google and Bose are today officially announcing a new version of the headphone maker’s great noise cancelling headphones, the QC 35s. The big new addition is Google Assistant — or rather, a dedicated button on the headphones that triggers the Google Assistant. The new branding is simply QC 35 II, and according to Google you set them up as usual via Bluetooth and then follow some instructions built into the Google Assistant app on either an Android phone (running Marshmallow or above) or an iPhone. Once that’s done, you’ll hold down the new button that’s on the right ear cup to trigger the Google Assistant. Google says that it can do most things the Assistant can do on your phone — read messages, play music or news, and of course call people. But the Assistant has slightly different capabilities in every place it appears, so it may be th...