Google and HTC are on track to close a deal worth $1.1 billion to the Taiwanese tech company in January.
The Taiwan Investment Commission has approved the proposal for HTC to transfer hardware engineers and share intellectual property with Google in exchange for the cash. The deal was first announced in late September.
The liquidity will help HTC power its Vive virtual reality division and give some running room for its declining smartphones. Investors are of high hopes that HTC can turn a profit next year after several years of losses.