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by lawnchair_larry
4426 days ago
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Interestingly, HTC bought a majority share (50.1%) in Beats, and slowly sold it back in pieces. Based on the timing, I wonder if Beats may have had to buy it back in order to sell to Apple. In August 2013, reports surfaced that Beats' founders planned to buy back HTC's remaining minority stake in the company, and pursue a new, unspecified partner for a future investment.[11][12] On September 27, 2013, HTC confirmed its plan to sell its remaining 24.84% stake in Beats back to the company for $265 million, with the deal expected to close by the end of the year. Concurrently, Beats announced that the Carlyle Group would make a minority investment in the company" |
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