Pretty soon, HTC products will no longer feature the Beats audio logo. From a few months back, the company partners have been in discussion about a split. And Friday marks the date of an official announcement from HTC, saying that the split is eminent and the two tech giants will part ways.
HTC has sold their remaining stake in Beats Electronics (roughly 25-percent) back to the high-def consumer audio company for a price set at $265 million. Originally HTC bought into the company, 50.1-percent at the time for $300 million, later selling more than half about a year ago for $150 million.
Allegedly hearsay is circulating that Dr. Dre’s audio equipment company was unhappy with strategies and HTC’s direction for their investments.
Also announced today, asset management firm, Carlyle Group LP, has invested in Beats. Affiliates of Carlyle Partners V, the company paid $13.7 billion for a minority investment.
In other Beats news, we’re still waiting on the elusive audio streaming service, Daisy, an alleged collaboration between Dre and Trent Reznor of Nine Inch Nails.
<Source: HTC Investors>