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HTC and Beats Audio finalize their divorce

Newsbrief by Andrew Kameka on Friday September 27, 2013.

industry news · andrew kameka

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Beats Electronics has repurchased the remaining 25 percent stake sold to HTC when the two companies formed an exclusive partnership for mobile devices with Beats-brand audio settings in 2011. Beats was rumored to want to end the partnership after two years because of a desire to expand into more product areas and take on new investment that HTC, facing its own financial troubles, couldn't support. HTC originally paid $300 million to own 50 percent of Beats Electronics. HTC originally sold 25 percent of its stake for $150 million and most recently sold the remaining shares for $265.

source: Nasdaq, via: Engadget

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