"In every rumor, there is always an atom of truth." This is the case with the report we read couple of days ago, about Google's plan to buy off HTC smartphone business. Actually, HTC sold something to Google, but not its smartphone bussiness, as widely speculated.
Google is buying HTC pixel workers, in a transaction which will see HTC receive US $1.1 billion. The tech giant is buying some members of the HTC team that have worked on Pixel smartphones, because, apparently, they are convinced the workers did an excellent job and can deliver on the next generation of Pixel devices.
The deal, which should be completed by 2018 after regulatory approvals, also gives Google access to HTC IP through Non-Exclusive Licensing Agreement. Here is a paragraph from HTC’s official statement:
The transfer of HTC workers to Google pixel team will benefit both parties. HTC -which is reportedly finacially handicapped- will get a whooping 1.1billion US dollars, which will boost the company in so many ways. On the other hand, Google gets a hardware team and a better Pixel device in the making.
Google is buying HTC pixel workers, in a transaction which will see HTC receive US $1.1 billion. The tech giant is buying some members of the HTC team that have worked on Pixel smartphones, because, apparently, they are convinced the workers did an excellent job and can deliver on the next generation of Pixel devices.
The deal, which should be completed by 2018 after regulatory approvals, also gives Google access to HTC IP through Non-Exclusive Licensing Agreement. Here is a paragraph from HTC’s official statement:
Google and HTC Corporation today announced a definitive agreement under which certain HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive US$1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property (IP).
The transfer of HTC workers to Google pixel team will benefit both parties. HTC -which is reportedly finacially handicapped- will get a whooping 1.1billion US dollars, which will boost the company in so many ways. On the other hand, Google gets a hardware team and a better Pixel device in the making.
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