Beats Audio To Buy Back 25 Percent Of Its Shares From HTC
Last years smartphone maker HTC purchased a large share in headphones maker Beats Audio, with the intent to integrate the Beats Audio technology into their various smartphones.
The deal was reported to be worth more than $300 million when it was announced last year, and now HTC and Beats Audio have announced that Beats will buy back 25 percent of their shares from HTC.
According to the announcement, the share buy back is to give Beats Audio more flexibility for global expansion, and still giving HTC a major stake in Beats Audio.
HTC will be left with a 25 percent share of Beats Audio and will continue to have exclusivity to use the Beats Audio technology for their mobile devices.
Source The Next Web