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

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

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

“This agreement reinforces HTC’s strategy of continuous development around the XR ecosystem, enabling a more streamlined product portfolio with a focus on platforms, greater operational efficiency and financial flexibility. ”