Smartphone Cooperation

Google and HTC Corporation announced a definitive agreement under which about 2,000 HTC employees, many of whom are already working with Google to develop Pixel smartphones, will join Google. HTC will receive $1.1 bn in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property (IP). The agreement is a testament to the decade-long strategic relationship between HTC and Google around the development of premium smartphones.