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Google to buy part of HTC's smartphone operations for $1.1 bln
September 21, 2017 / 2:41 AM / a month ago

Google to buy part of HTC's smartphone operations for $1.1 bln

TAIPEI, Sept 21 (Reuters) - Alphabet Inc’s Google will acquire part of Taiwanese smartphone maker HTC’s smartphone operations for $1.1 billion, the companies said in a joint statement on Thursday.

Under the deal, Google will acquire a team of people who develop Pixel smartphones for the U.S. firm and receive a non-exclusive license for the Taiwanese firm’s intellectual property.

The transaction, which is subject to regulatory approvals, is expected to close by early 2018. (Reporting by Jess Macy Yu; Writing by Lee Chyen Yee; Editing by Edwina Gibbs)

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