Google taps HTC talent in $250 million deal to lead AR/VR innovation – Alphabet (NASDAQ:GOOGL)

Alphabet Co., Ltd. google google Google has agreed to acquire part of HTC’s augmented reality (XR) business for $250 million following the recent launch of the Android XR platform.

The agreement includes assigning a portion of the HTC VIVE engineering staff to Google and granting them non-exclusive intellectual property rights. HTC retained the rights to use and develop the technology.

Also read: Meta’s smart glasses dominate Ray-Ban stores, AI features still missing

The deal is the second major deal between the two companies, after Google acquired HTC’s smartphone division for $1.1 billion in 2017, TechCrunch reported.

Google said the acquisition will accelerate development of its Android XR platform across headsets and glasses.

Recently, Google eavesdropped on Samsung Electronics. SSNLF Samsung developed the augmented reality glasses shortly after launching Project Moohan, a mixed reality headset that runs on Google’s Android XR platform.

Google had cash and equivalents of $93.23 billion as of September 30, 2024.

Google rival Meta Platforms Inc. meta plans to release AR glasses “Artemis” in 2027.

In 2024, Meta unveiled Orion AR glasses. Analysts including JMP Securities’ Andrew Boone, Wedbush’s Scott Devitt, and Oppenheimer’s Jason Helfstein say Meta is using AR/VR with Orion Glass and its cost-effective Quest headset. He emphasized that he is demonstrating leadership in the field.

Price Action: GOOGL stock was up 0.71% at $204.45 at last check on Thursday.

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