Business negotiations completed between HTC and Beats
HTC is set to take a 51 per cent share in Beats Electronics.
HTC may have used merger and acquisition consultants to help tie
up a deal that will see it take a 51 per cent stake in Beats
The Taiwanese mobile manufacturer will take a controlling
interest in the latter firm, which was founded by Jimmy Iovine and
rapper Dr Dre.
Although the exact figure has not been released, the agreement
is believed to have cost HTC over $300 million (£184 million).
Mr Iovine observed the link-up represents a "critical step in
our continued mission to clean up the destruction of audio caused
by the digital revolution".
A range of smartphones that have the Beats by Dr Dre sound
experience are set to go on sale in the autumn.
Peter Chou, chief executive officer of HTC Corporation,
observed: "It's an exciting brand that has been built around
providing something very special."
It comes after HTC unveiled its Sensation 4G, which is being
billed as the first superphone.