Google Acquires HTC’s “Team and Talent” for US$1.1 Billion
Alphabet's Google and Taiwan's HTC have signed a “Cooperation Agreement” of $1.1 billion. The deal is to expand Google smartphone business. The company (Goog) will not be acquiring a stake in HTC, at this point. HTC's Team and Talent (those people who worked on Pixel and Pixel XL smartphones) would be joining Alphabet's Google. HTC was, for the most past, a major player in the smartphone market previously. Since then, it has struggled to compete with Apple, Xiaomi, Vivo, Oppo, Samsung and other Chinese smartphone makers.
The company (Goog) is expecting the “Cooperation Agreement” to close by early 2018. It may get delayed if it does not get the all clear from the required agencies. HTC suspended its share trades in Taiwan due to this. This is the company's (Goog) latest move to increase its presence in the hardware side of the business.
Under this latest “Cooperation Agreement,” Google would acquire the Team and Talent who worked on the Pixel smartphones. The company (Goog) will receive licenses (non-exclusive) to HTC's Intellectual Property (IP).
According to HTC, 2,000 people from their research and development team will transfer over to Google. HTC manufactured the company's (Goog) Pixel and Pixel XL. HTC and Google would be releasing an updated version of these smartphones next month.
This “Cooperation Agreement” is the company's (Goog) second major endeavor in #Android device manufacturing. In 2011, the company's (Goog) had bought Motorola's Mobility Division for $12.5bn. The the company's (Goog) then sold it after three years.
HTC makes Vive. Vive is a VR headset that is favored by Google. Oculus Rift, an alternative, is closely-held by Facebook. Vive has been outselling Oculus Rift. Many recognise it as superior system.
You can read more about this announcement on the company’s official blog here.
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[Devesh Prabhu is a simple person who follows #Tech, #Smartphones, #Tablets, and other #Technology related #NEWS in general and blogs about them in his own way. He has been blogging on these and many other technology-related topics through his various blogs. You can always find him tinkering with his various gadgets to see what makes them tick. When not blogging or writing articles, you can find him enjoying the calmness and serenity of nature in a secluded location.
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