Rumours were afloat about Google acquiring whole of HTC, but now it seems to not be the case. According to an official statement, a number of HTC’s employees will now be working with Google on their Pixel smartphones. In return, HTC received $1.1 billion. Most of HTC’s divisions remain intact and the company will keep on dishing out HTC smartphones and Vive virtual reality products.

So, long story short, HTC gets some cash, Google gets some hardware experts and everyone is happy.