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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.

 

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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

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