Google, HTC Announce $1 Billion Smartphone Deal

Google announced late Wednesday it has reached a deal valued at more than $1 billion to buy part of the smartphone division of Taiwan’s HTC. Google will pay HTC $1.1 billion and receive a non-exclusive license for HTC intellectual property, while certain HTC employees, “many of whom are already working with Google to develop Pixel smartphones – will join Google,” the companies said in a joint news release.