Andre Yoskowitz
22 Jul 2012 16:44
Just a year after they sold 50 percent of the company to HTC, Beats Audio has bought back 25 percent of that stake.
HTC originally purchased their 50 percent stake for $300 million, and Beats bought their 25 percent share back at the same equivalent price, $150 million. Beats will now have a controlling 75 percent stake.
Beats says it will now have "more flexibility for global expansion."
For its part, HTC will keep exclusivity on the Beats Audio tech for mobile, meaning you won't be seeing it in Samsung, Motorola or other company's phones anytime soon.
The two companies will also work on a major joint marketing campaign later this year.