Google invests $250 million in HTC's VR business sector | Tracer Tecz

After launching its Android XR platform Google is expanding its XR hardware efforts through acquiring a business unit from HTC for $250 million. Under this agreement HTC VIVE engineering staff members will move to Google while both companies share non-exclusive intellectual property rights.

HTC continues to keep all powers to work and update the technology. Google and HTC closed their second major agreement by buying HTC's smartphone unit in 2017. Google plans to speed up work on Android XR platform across both virtual reality headsets and augmented reality glasses.

Tech companies are competing fiercely to create first-mover advantages in XR development but Apple and Meta keep holding the virtual reality market lead. The two companies intend to examine possible joint projects beyond this deal.