Google Buys Part of HTC's Smartphone Team For $1.1 Billion (betanews.com)

BrianFagioli shares a report from BetaNews: Today, a deal finally happens, but Google didn't buy HTC outright. Strangely, as the deal is laid out, the search giant has seemingly bought HTC employees. Yes, for $1.1 billion, the search giant has sort of purchased human beings -- plus it gets access to some intellectual property. HTC gets a much-needed big influx of cash. "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 $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," says HTC.