An HTC smartphone is displayed in an HTC store in Taipei, Taiwan.
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Taiwanese HTC said on Thursday it would sell parts of its extended reality (XR) headsets and glasses unit to it Google Transfer some employees to U.S. companies for $250 million.
HTC said the deal is expected to close in the first quarter of this year.
HTC added that the two companies will also explore further collaboration opportunities.
This isn’t the first large-scale deal between the two companies. In 2017, Google announced that it would acquire part of HTC’s smartphone business for US$1.1 billion.
Google said in a separate statement that the latest deal will accelerate the development of the Android XR platform and strengthen the headset and glasses ecosystem.
HTC Vice President and General Counsel Noo told reporters that the company had granted its intellectual property to Google as a non-exclusive license.
“So this is not a buyout, nor is it an exclusive license. Going forward, HTC will still retain the ability to use, exploit, and even further develop it without any restrictions,” he said.
