HTC and Google have announced the signing of a cooperation agreement

© AP Photo / Newsis/ Kim Jin-AFIS Google. Archival photoHTC and Google have announced the signing of a cooperation agreement© AP Photo / Newsis/ Kim Jin-a

The Taiwanese manufacturer of smartphones and tablets HTC (High Tech Computer Corporation) on Thursday announced the signing of an agreement on cooperation with the American Corporation Google in the amount of 1.1 billion dollars, the statement said HTC.

«Google and HTC Corporation today announced the final agreement, according to which some of the HTC staff – many of whom are already working with Google to develop a new smartphone Pixel will be transferred to Google. HTC will receive 1.1 billion dollars from Google as part of the transaction,» the statement reads.

In addition, «Google will have a non-exclusive license to the intellectual property of HTC.»

The transaction is expected to be closed in early 2018.

HTC was founded in 1997. It produces smartphones and tablets based on mobile operating system Windows Mobile from Microsoft, Android and Windows Phone. Headquarters located in new Taipei, Taiwan.