Google completes deal to buy HTC’s Smartphone Division

Google has announced that it has officially closed off its $1.1 billion deal to buy HTC’s hardware business.

The acquisition was announced back in September 2017 but now it has passed the requisite approvals and is finalized.

The deal will also see Google transfer over 2,000 engineers from HTC that’s around one-fifth of HTC’s engineering team.

“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. This is also the same team we’ve been working closely with on the development of the Pixel and Pixel 2,” read a statement from Google.

Google will also receive a non-exclusive license for HTC’s intellectual property. However, HTC will still retain its Vive VR division and it will continue to make its own smartphones, the company confirmed last year.

Google also announced that they will be expanding our footprint in the Asia Pacific region. Taiwan is a key innovation and engineering hub for Google, and Taipei will now become the largest Google engineering site in APAC.

The closure of the deal marks another notable development for Google’s business in Asia in recent months.

Part of Google’s plan in Asia include plans to open an AI lab in Beijing, and opening a base in Shenzhen.

Google has also turned investor, putting money into Chinese streaming service Chushou, U.S.-Chinese biotech firm XtalPi, which uses AI and machine learning to help design drugs, and Indonesian ride-hailing service Go-Jek.

Google also struck a key alliance with Tencent, the $500 billion Chinese giant making moves in the U.S. and other global markets, after the duo agreed to a broad patent licensing deal. That’s a relationship to watch as Google advances its hardware and Asia business play.KLJ5HY