TheLostSwede
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HTC Corp. and Google LLC announced today a definitive agreement under which HTC will receive US$250 million in cash from Google, and certain HTC employees from its XR team will join Google. As part of the transaction, Google will receive a non-exclusive license for HTC's XR intellectual property (IP). Following this agreement, HTC and Google will explore future collaboration opportunities.
This agreement reinforces HTC's strategy of continued development around the XR ecosystem, enabling a more streamlined product portfolio with a focus on platforms, greater operational efficiency and financial flexibility. HTC's commitment to delivering innovative VIVE XR solutions such as the VIVE Focus Vision remains unchanged, with existing product lines and solutions to be supported and developed without interruption.
For Google, this agreement helps to further strengthen its commitment to the Android XR platform and its acceleration across the headset and glasses ecosystem, which will help drive the XR industry. The transfer to Google of a strong technical team with a proven track record in the VR/XR space builds upon Google's significant investment in Taiwan as a key innovation and technology hub.
The transaction is subject to customary closing conditions and is expected to close in Q1 2025.
Evercore served as financial advisor to HTC and Gibson Dunn and Tsar & Tsai acted as legal counsel.
View at TechPowerUp Main Site | Source
This agreement reinforces HTC's strategy of continued development around the XR ecosystem, enabling a more streamlined product portfolio with a focus on platforms, greater operational efficiency and financial flexibility. HTC's commitment to delivering innovative VIVE XR solutions such as the VIVE Focus Vision remains unchanged, with existing product lines and solutions to be supported and developed without interruption.
For Google, this agreement helps to further strengthen its commitment to the Android XR platform and its acceleration across the headset and glasses ecosystem, which will help drive the XR industry. The transfer to Google of a strong technical team with a proven track record in the VR/XR space builds upon Google's significant investment in Taiwan as a key innovation and technology hub.
The transaction is subject to customary closing conditions and is expected to close in Q1 2025.
Evercore served as financial advisor to HTC and Gibson Dunn and Tsar & Tsai acted as legal counsel.
View at TechPowerUp Main Site | Source