http://www.techradar.com/news/google-buys-part-of-htcs-smartphone-business-including-team-thats-working-on-pixel

Google is buying part of HTC's smartphone business, the companies announced today, putting an end to months of rumors about an acquisition.

Here's how the deal breaks down: certain HTC employees, "many of whom are already working with Google to develop Pixel smartphones," will join Google's hardware business. HTC is to receive $1.1 billion in cash as part of the transaction, according to a statement.