A report from The Wall Street Journal back in August suggested that Beats would pull away from its partnership with HTC, and the former company confirmed the split today. Beats Electronics has bought out HTC’s remaining 25% stake in the company, netting the Taiwanese manufacturer $265 million (around £164 million) in the process.
HTC acquired a controlling 50.1% interest in Beats back in 2011 for $300 million, but the makers of the popular headphone later bought back 25% worth of shares for $150 million. Today’s buyback may seem like an end to the collaboration, but HTC says that Beats “will still be an important partner” going forward. The company didn’t elaborate, however, so it isn’t clear if Beats will still make an appearance on future HTC devices.
Spotted at Engadget