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Google to buy part of HTC's smartphone operations for $1.1 billion

Under the deal, Google will acquire a team of people who develop Pixel smartphones for the U.S. firm and receive a non-exclusive license for the Taiwanese firm`s intellectual property.

Google to buy part of HTC's smartphone operations for $1.1 billion
A HTC "U11" smartphone is displayed in this illustration photo. Photo: Reuters
Written By: Reuters
Updated: Thu, Sep 21, 2017
08:19 am
Taipei, Reuters

Alphabet Inc`s Google will acquire part of Taiwanese smartphone maker HTC`s smartphone operations for $1.1 billion, the companies said in a joint statement on Thursday.

Under the deal, Google will acquire a team of people who develop Pixel smartphones for the U.S. firm and receive a non-exclusive license for the Taiwanese firm`s intellectual property.

The transaction, which is subject to regulatory approvals, is expected to close by early 2018.