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HTC buys majority stake in Beats by Dr. Dre

Posted on Monday, August 15 2011 @ 23:19:32 CEST by

After spending $300 million to acquire S3 Graphics in early July, HTC announced last week that it has committed another $300 million to buy a 51 percent stake in Beats by Dr. Dre:
This time around, HTC plans to announce a 300 million U.S. Dollar investment into Beats by Dr. Dre, progressive audio peripheral company that captured a lot of market and mind share over the past couple of years.

While S3 Graphics was purely an IP deal, as the company holds a lot of patents in the graphics space which will enable HTC to countersue Apple and a lot of other companies, this investment is solely targeted in expanding the features of their smartphone lines and bring serious level of audio innovation into the field.

Under the investment deal, HTC will take over 51% of the company, which will remain autonomous, under the lead of Jimmy Iovine as Chairman and Luke Wood as President and CEO.
Source: BSN



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