HTC to sell part of XR unit to Google for $250 million

Taiwan's HTC said on Thursday it will sell part of its unit for extended reality (XR) headsets and glasses to Google for $250 million and transfer some of its employees to the U.S. company.

The transaction is expected to close in the first quarter of this year, HTC said.

The two companies will also explore further collaboration opportunities, HTC added.

Google said in a separate statement that the deal will accelerate the development of the Android XR platform and strengthen the ecosystem for headsets and glasses.

Lu Chia-te, HTC vice president and general counsel, told reporters the company had granted its intellectual property rights to Google as a non-exclusive license.

"Therefore, this is not a buyout nor an exclusive licence. In the future, HTC will still retain the ability to use, utilise, and even further develop it without any restrictions," he said.