Google, HTC sign $1.1bn co-operation agreement
Tech giant Google and HTC have signed an agreement that will allow certain HTC employees to work for Google. In exchange, HTC will receive $1.1 billion in cash from Google.
As part of the deal, Google will also get a non-exclusive license for the intellectual property of HTC. Many of HTC employees have already worked with Google to develop the Pixel smart devices.
Rick Osterloh, senior VP of Hardware at Google, said in a statement pointed to HTC’s longtime partnership with Google to create some premium devices.
Speaking on the topic, Osterloh 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.”
It seems to be part of Google’s new hardware strategy that is why it ended up purchasing part of another smartphone maker despite having formerly acquired and then divested itself of the mobile business of Motorola.
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