Google hardware exec Rick Osterloh said in a statement: “With this agreement, a team of HTC talent will join Google as part of the hardware organization.”
Under the agreement, Google will acquire a team of approximately 2,000 HTC employees, many of whom have worked with the company on its Pixel smartphone. As part of the transaction, HTC will receive $1.1 billion in cash.
“These future fellow Googlers are amazing folks we’ve already been working with closely on the Pixel smartphone line,” Osterloh said, adding that the deal includes a non-exclusive license for HTC intellectual property.
Separately, Google will also receive a non-exclusive license for HTC intellectual property.
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,” Cher Wang, chairwoman and CEO at HTC, said in a prepared statement.