Google acquires HTC Pixel team and gets some IPs too. HTC lives on..
So it happens that Google is not exactly buying HTC. They are buying some members of the HTC team that have worked on Pixel smartphones. Apparently, Google is convinced that they did an excellent job and can deliver on the next generation of Pixel devices.
Breakdown Of The Google-HTC Deal
The deal also gives Google access to HTC IP through Non-Exclusive Licensing Agreement. The deal should be completed by 2018 after regulatory approvals have been granted. An excerpt 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).
It looks like everybody wins in this. HTC gets $1.1billion, which should boost their chances of getting out of the red, Google gets a hardware team, HTC fans don’t get to cry over the death of their favourite brand, and Pixel fans can expect more of that good stuff they’ve been swearing by since the first Pixel smartphone hit the market. Hurray!
If you are able to decipher complicated press announcements, do head over to the Source. God knows I needed help to fully understand what it says.😛