It was obvious that at some point, HTC would have to sell its smartphone business and the first buyer in the line was Google. The two companies have now announced that they have reached a deal and that Google would pay $1.1 billion in cash to acquire the smartphone division from Taiwan's HTC.
However, this isn't the usual acquisition. Google only paid for a non-exclusive license for HTC's intellectual property, while the Taiwanese firm will continue to run its remaining smartphone business. HTC confirmed that they will still employ more than 2,000 research and design staffers after the deal is done.
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