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$1.1 bn

Google to buy part of Taiwan smartphone maker HTC for $1.1 bn

Taiwan's struggling smartphone maker HTC said on Thursday it would sell part of its smartphone business to Google for $1.1 billion as the US giant looks to take greater control of its hardware business. Google will take on half of HTC's research and development staff -- about 2,000 people -- many of whom have already been working on the Silicon Valley firm's Pixel handset, as well as intellectual property (IP) licensing. HTC said in a statement the deal is expected to be completed early next year, pending regulatory…