Taiwan’s HTC is set to sell its XR division to Google for $250 million, according to Reuters

TAIPEI (Reuters) – Taiwan’s HTC said on Thursday it would sell its augmented reality (XR) unit to Google (NASDAQ: ) for $250 million, with some of the Taiwanese company’s affiliates joining the U.S.

The transaction is expected to close in the first quarter of this year, HTC said.

The two companies will also explore future collaboration opportunities, HTC added.

“This agreement reinforces HTC’s continued development strategy around the XR ecosystem, which includes a more streamlined product portfolio focused on platforms, greater operational efficiency and financial flexibility.”