Google is Buying HTC’s Smartphone Expertise for $1.1 Billion

As we have already told you that Google is in a process to buy all or a part of HTC. Both companies have not revealed any information regarding this. But Now Finally Google has confirmed about the deal. Google is Buying HTC’s Smartphone Expertise for $1.1 Billion.

Google is Buying HTC’s Smartphone Expertise for $1.1 Billion

“These future fellow Googlers are amazing folks we’ve already been working with closely on the Pixel smartphone line, and we’re excited to see what we can do together as one team,”

Rick Osterloh, Google’s hardware boss, wrote in a blog post.

“The deal also includes a non-exclusive license for HTC intellectual property.”

HTC will continue onward with its own smartphone business even after sending a good portion of its talent and operations over to Google. HTC CEO Cher Wang said that

“ this agreement will ensure continued innovation within our HTC smartphone and Vive virtual reality business.”

Also Read: HTC might Announce Google Acquisition Tomorrow

HTC has around 4,000 people in its R&D team and Google is buying half of them as the part of this deal. With this deal, Google is putting a big bet on hardware and hopes to succeed with it. The deal is expected to be approved and closed by early 2018.

Here’s what HTC had to say on the deal:

“This agreement is a brilliant next step in our longstanding partnership, enabling Google to supercharge their hardware business while ensuring continued innovation within our HTC smartphone and Vive virtual reality businesses.”