Thursday in CE: Google to Buy Part of HTC’s Smartphone Team for $1.1 Billion
It took a couple of weeks, but it appears now that Google and HTC have reached an agreement that will see a portion of HTC’s smartphone arm become a Google/Alphabet property. According to multiple reports the search giant will pay $1.1 billion to acquire the smartphone brains at HTC. Specifically, according to CNN Money, the deal will bring roughly 2,000 HTC engineers and technical staff under the Google umbrella. Additionally, in a separate agreement Google will acquire licenses to some of HTC’s intellectual property.
In a blog post, Google said the deal proves the company’s commitment to smartphones and other hardware, and will fuel “even more product innovation in the years ahead.”
“In many ways, this agreement is a testament to the decade-long history of teamwork between HTC and Google,” Senior Vice President of Hardware Rick Osterloh wrote. “Together, we’ve achieved several mobile-industry firsts, including the first ever Android smartphone.”