The tie-up between HTC and Beats Electronics has been a curious one, and now it is coming to an end. HTC dumped $300 million into Beats by Dr. Dre back in 2011 and the company’s audio tuning technology was showcased on a number of HTC smartphones following the deal. Now that HTC has moved on to “BoomSound” technology, the company apparently has no need to be involved with Beats. HTC announced on Friday that it has sold its 26,100 Class B shares, which represented about 25% of Beats, back to Beats Electronics for roughly $265 million. The funds changed hands on Friday so the deal is done, and HTC confirmed that it now holds zero interest in Beats.
HTC and Beats part ways following $265 million share buyback
Published Sep 27th, 2013 8:20AM EDT
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Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
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