Google $1.1 billion acquisition of HTC's Pixel division

Overview:

• Google has acquired the Pixel engineering team of HTC for $1.1 billion.
• HTC is responsible for manufacturing Google's Pixel smartphones.
• The deal is part of a wider move by Google into hardware manufacturing.
• The acquirer will also receive patent rights and 2000 HTC staff.
• HTC will continue to run its broader smartphone business.
• Evercore has provided financial advice to HTC and Lazard served as financial adviser to Google.

Katrin Kostadinova - Data analyst