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Beats repurchases 25% of its shares back from HTC

HTC has agreed to let Beats buy 25% of its total shares from the company

By Anthony Garreffa on Jul 22, 2012 09:28 pm CDT - 0 mins, 53 secs reading time

It looks like some internal cat fights between HTC and Beats have caused the partnership to go a little sour, with a company note to investors, HTC have announced that they've agreed to let Beats buy back 25-percent of its total shares from HTC. HTC have said:

beats_repurchases_25_of_its_shares_back_from_htc_02

HTC and Beats today announced a realignment of their business agreement that provides Beats with more flexibility for global expansion while maintaining HTC's major stake and commercial exclusivity in mobile.

Under the terms of the agreement, the founding members of Beats will buy back 25% of its total shares for a total of approximately 75% ownership, with HTC remaining the largest outside shareholder with approximately 25%.

Over the last year, HTC and Beats have made great progress in sound innovation, product integration and brand awareness with successes like the HTC One. HTC and Beats will continue to work closely, including a joint global marketing campaign later this year.

We should see how this fares for HTC in the coming months, they did just recently acquire streaming music service MOG.

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:htc.com

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