Google Pays HTC $1.1 Billion to Acquire the Pixel Team, Not Own Their Smartphone Business

It’s now official – Google is buying into HTC. Well, sort of. The deal is an odd one that is being called a “cooperation agreement” and will cost Google $1.1 billion to essentially acquire the talent from HTC who worked on the last couple of Pixel phones. The deal will also give Google access to HTC’s intellectual property, just not exclusively. Confused? We all are!

According to HTC, the agreement includes “certain HTC employees – many of whom are already working with Google...

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