Google and HTC have just announced the completion of a deal. Under the terms of the transaction, certain HTC employees from the “Powered by HTC” R&D division will join Google. A number of these employees were already working with Google to develop the Pixel smartphones. Another part of the deal will give Google a non-exclusive license for HTC’s intellectual property. In return, Google will fork over $1.1 billion to the cash starved HTC, which has reported a loss for nine consecutive quarters. With the transaction, Google will be able to use HTC’s IP to help it support the Pixel family of smartphones.