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Google to buy part of HTC's smartphone operations for $1.1 billion
Written By Reuters
Published: | Updated:
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.
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A HTC "U11" smartphone is displayed in this illustration photo. Photo: 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.
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