17 / 84
LatestNews
Google and HTC Announce US$1.1 Billion Cooperation Agreement
Google and HTC Corporation today
announced a definitive agreement under
which certain HTC employees – many of
whom are already working with Google
to develop Pixel smartphones – will join
Google. HTC will receive US$1.1 billion
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.
This agreement also supports HTC’s continued branded
smartphone strategy, enabling a more streamlined product
portfolio, greater operational efficiency and financial
flexibility. HTC will continue to have best-in-class engineering
talent, which is currently working on the next flagship
phone, following the successful launch of the HTC U11
earlier this year. HTC will also continue to build the virtual
reality ecosystem to grow its VIVE business, while investing
in other next-generation technologies, including the Internet
of Things, augmented reality and artificial intelligence.
For Google, this agreement further reinforces its
commitment to smartphones and overall investment in its
emerging hardware business. In addition to the talented
and experienced team of professionals, Google will continue
to have access to HTC’s IP to support the Pixel smartphone
family. Additionally, this agreement also represents a
significant investment by Google in Taiwan as a key
innovation and technology hub.
“As a pioneer of the smartphone market,
we are very proud of our history of
innovation. Our unmatched smartphone
value chain, including our IP portfolio, and
world-class talent and system integration
capabilities, have supported Google in
bolstering the Android market,” said Cher
Wang, Chairwoman and CEO of HTC. “This
agreement is a brilliant next step in our
longstanding partnership, enabling Google to supercharge
their hardware business while ensuring continued innovation
within our HTC smartphone and VIVE virtual reality
businesses. We believe HTC is well positioned to maintain
our rich legacy of innovation and realize the potential of a
new generation of connected products and services.”
“HTC has been a longtime partner of Google and has created
some of the most beautiful, premium devices on the market,”
said Rick Osterloh, Senior Vice President of Hardware at
Google. “We’re excited and can’t wait to welcome members
of the HTC team who will be joining Google to fuel further
innovation and future product development in consumer
hardware.”
The transaction, which is subject to regulatory approvals
and customary closing conditions, is expected to close by
early 2018.
Evercore served as financial advisor to HTC and Gibson
Dunn and Tsar & Tsai acted as legal counsel. Lazard served
as financial advisor to Google and Cleary Gottlieb and Lee &
Li acted as legal counsel.
Real-time digital pricing
Smart weigh scales with built-in clienteling
Interactive digital experiences featuring facial analysis
and actionable consumer insights
“The newMadrid showroom is the ideal location for our clients
to get inspired, meet with Toshiba retail experts, collaborate
with our strategic partners and experience Toshiba as the
one-stop shop in providing commerce solutions to meet the
dynamic needs of the rapidly changing retail landscape,”
said Yevgeni Tsirulnik, Group Vice President, EMEA Sales
and Omni Channels, Toshiba Global Commerce Solutions.
Says Adam Sheppard, President and CEO, Toshiba TEC
European Retail Operations: “Our customer and business
partner growth has inspired the opening of a centrally
located Retail Experience Theatre in Europe that will allow
retailers from many countries to experience first-hand the
end-to-end customer shopping experiences. The future is
already here!”
“The power of Toshiba and our full integration with an
extensive network of Together Commerce Alliance partners
delivers proven end-to-end solutions that offer retailers
significant business value and improved performance,” said
Gerard Pruijn, European Director of Strategic Partnerships,
Toshiba TEC.
New-Tech Magazine Europe l 17