Tech content trusted by users in North America and around the world
6,527 Reviews & Articles | 44,046 News Posts
TweakTown's Computex Taipei 2015 Coverage direct from Taipei, Taiwan - ALL STORIES!

Beats buys back final half of HTC partnership, cost $265 million

Beats calls its quits with HTC, buys back remaining shares for $265 million (TPE:2498)

| Business, Financial & Legal News | Posted: Sep 27, 2013 8:02 pm

The partnership between headphone manufacturer Beats and handset giant HTC has finally came to an end. This morning, Beats announced that it has bought back the remaining stake held by HTC for $265 million. The two companies partnered up back in 2011, when HTC picked up a 50.1 percent controlling interest for $300 million.

 

beats_buys_back_final_half_of_htc_partnership_cost_265_million_1

 

Just a year later, Beats bought back half of that stake for $150 million. With today's buyback, HTC has profited over $115 million from the deal, not including any royalties and unseen payments that have taken place. No reason was given for the split, but with HTC in financial trouble, we are sure that the sudden influx of cash is a welcomed one.

NEWS SOURCES:Theverge.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Subscribe to our Newsletter
Or Scroll Down