Nothing but negotiation

The Gap Partnership

Business negotiations completed between HTC and Beats

HTC is set to take a 51 per cent share in Beats Electronics.

11 August 2011

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 Electronics.

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.

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