Google and HTC collaboration to develop XR technologies

Google has bought part of the HTC team working on the Wave and other XR technologies for $250 million in cash. The amount also grants Google a non-exclusive license to use HTC’s XR intellectual property.

According to HTC, the deal will further grow the still-nascent XR ecosystem. After this deal, Google and HTC will explore future cooperation opportunities.

On Google’s part, the move reinforces Google’s commitment to the Android XR platform and its acceleration in the headset and glasses ecosystem, which will help grow the XR industry, according to HTC’s official statement. For HTC, the deal also allows for greater platform focus, higher operational efficiency and greater financial flexibility.

The deal is subject to customary contract terms and is expected to be finalized by the end of March.