9/21/2017, 7:24 AM (Source: TeleTrader)
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Google pays HTC for license, Pixel group

Alphabet Inc.'s search powerhouse said it will be joined by a team of people who worked with it on the Pixel portfolio of smartphones as part of HTC Corp. Rick Osterloh, senior vice president for hardware, explained a cooperation agreement has been struck for Google Inc. to also get a non-exclusive license for intellectual property of the ailing manufacturer from Taiwan. HTC will receive $1.1 billion in cash.

He noted the two companies have been working together on hardware for a decade, in projects such as HTC Dream, Nexus One and the Nexus 9 tablet. The Made by Google lineup, which incorporates the home and WiFi system and Chromecast Ultra, will be expanded when new products are presented on October 4, the official said about the continuation of the "big bet."

"We believe HTC is well positioned to maintain our rich legacy of innovation and realize the potential of a new generation of connected products and services," said Cher Wang, the smartphone maker's chairwoman and chief executive.

Baha Breaking News (BBN) / IT