Google Will Pay $1.1 Bln to HTC to Acquire Employees Working on Pixel Smartphones

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Finally, the rumours about Google acquiring HTC Corp (TPE:2498) has settled down as Google and HTC have officially announced the new ‘cooperation partnership’. According to the press release from HTC, Google has agreed to pay $1.1 billion in cash to HTC for its employees who would join Google. These are the HTC employees who have already been working with Google for its PIxel Smartphones. Besides, HTC will also provide Google a non-exclusive license for HTC Intellectual Property (IP) as apart of the agreement.

For the last few days, rumours were making round on the Internet about the possible acquisition of HTC’s smartphone business by Google. HTC, which has been going through trough time due to increasing market competition and losing market share and valuation, was in talks with Google for some time over a possible merger/collaboration/acquisition.

The deal, however, has settled the dust and killed all the reports on the possibility of HTC selling of its complete smartphone business to Google. HTC has officially confirmed that the company will continue manufacturing best-in-class smartphones lineup to show its continued commitment in the smartphone space. The company has also said that even after offloading a sizable number of employees to Google, the company has maintained its best talents who have been working on the next flagship phone, following the successful launch of HTC U11 earlier this year.

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“HTC has been a longtime partner of Google and has created some of the most beautiful, premium devices on the market,” said Rick Osterloh, Senior Vice President of Hardware at Google. “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,” adds Osterloh.

Though It may be a bit early to conclude the outcome of the partnership, it looks like a Win-Win situation for the both, Google and HTC. Google has successfully acquired the selective and tested talents for thriving its Pixel range. After non-exclusive buying of HTC’s IP that is crucial for Pixel lineup smartphones, Google can compete with Apple and Samsung in the premium smartphone segment with more confidence now. On the other hand, the troubled HTC has a bigger financial cushion that may help the company to strengthen its market presence for its flagship range.

Source: HTC

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