HTC has concluded the business deal with Google as to the sale of a huge part of its Hardware base. The company has sold off that huge part for a staggering price of $1.1 billion. The takeover has been announced since September 2017 but as of now, it has finally gone through every process and has been finalized. Aside from the deal, a total number of about 2000 engineers, which is about one-fifth of the engineering team of HTC, has also been transferred to Google. Google will also be receiving a non-exclusive license for HTC’s intellectual property. The company, HTC, will be holding back on its Vive VR division that will continue the production of its own smartphones, they revealed that last year.
The deal actually brought a significant boost to the hardware game of Google as it now handles a large portion of HTC’s smartphone development team. Many of whom worked on Google’s pixel hardware ( that was outsourced to HTC) and other HTC devices that didn’t sell in such high quantity, even with the huge publicity.
On the other hand, it gives Google access to a great new engineering base in Taipei, Taiwan, which was the base of HTC. This gives that location out as the largest engineering site Google owns in the Asia Pacific, and it’s supposedly going to be the base for the production of new products from Google from hencefort.
“I’m delighted that we’ve officially closed our deal with HTC, and are welcoming an incredibly talented team to work on even better and more innovative products in the years to come,” Rick Osterloh, Google’s senior VP of hardware, wrote in a blog post.
“These new colleagues bring decades of experience achieving a series of “firsts” particularly in the smartphone industry—including bringing to market the first 3G smartphone in 2005, the first touch-centric phone in 2007, and the first all-metal unibody phone in 2013,” Osterloh added.
The signing off of this business deal initiates another landmark development for Google in Asia in recent months. The company has made plans to startup an AI lab in Beijing, and in high consideration on this is China, while also opening up another base in Shenzhen, the one Chinese city known as the world’s “Silicon Valley of hardware.” Google has also invested in the Chinese streaming service Chushou, U.S.-Chinese biotech firm XtalPi, that helps to use AI and machine learning to help design drugs and Indonesian ride-hailing service Go-Jek.
The company has also made a key alliance with Tencent, a $500 billion Chinese giant that is making waves in the US, and other global markets after the two companies have agreed to a large patent licensing deal. That’s a relationship to watch as Google advances its hardware and Asia business play.