Google to Acquire Part of HTC's XR Unit for US$250 Million

Taiwanese tech company HTC has announced a significant move in the virtual reality sector, revealing its plan to sell a portion of its extended reality (XR) unit to Google for a substantial US$250 million. As part of the deal, HTC will also be transferring some of its employees to the American tech giant. The transaction is set to be finalised in the first quarter of this year, according to HTC.

Credit: GOOGLE

This collaboration between HTC and Google is not their first, with a notable previous deal in 2017 when Google acquired a section of HTC's smartphone operations for $1.1 billion. The current agreement aims to not only facilitate the transfer of assets but also to explore potential future partnerships between the two companies.

In response to the deal, Google released a statement highlighting the strategic importance of the acquisition in advancing the Android XR platform. The partnership is expected to enhance the development of headsets and glasses, ultimately strengthening the ecosystem for XR technology.

HTC's Vice President and General Counsel, Lu Chia-te, clarified the nature of the agreement, stating that HTC has granted Google non-exclusive rights to its intellectual property. This arrangement allows HTC to retain the freedom to continue using, enhancing, and evolving the technology without limitations.

In summary, the collaboration between HTC and Google in the XR sector signifies a significant step towards innovation and development in virtual reality technology. The deal not only involves a substantial financial transaction but also sets the stage for future cooperation and advancements in the XR ecosystem.

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• HTC to sell part of its XR unit to Google for $250 million and transfer employees.

• Previous collaboration between HTC and Google in 2017 with a $1.1 billion deal.

• Google aims to accelerate Android XR platform development through the agreement.

Source: REUTERS