News Articles

Friday, September 27, 2013

HTC to sell its stake in Beats Electronics for a profit

HTC is selling its final share in audio product manufacturer Beats Electronics back to the company. It bought a majority share in Beats two years ago but later sold some of its stake back to the founding members. This final deal for 24.84% of Beats is worth $265 million (£164 million), resulting in a £53 million profit.

Beats, which was founded in 2006, is also reported to have arranged a $500 million investment from an equity firm.

Since the 2011 deal was put in place, audio technology from Beats has been integrated into a number of HTC handsets including the current HTC One.

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Handsets and manufacturers, NewsNumber of views: 1712

Tags: htc audio

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«October 2017»
MonTueWedThuFriSatSun
2526272829301
2345678
9101112131415
16171819202122
23242526272829
303112345

Archive

Terms Of Use | Privacy Statement