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Beats gets investment from Carlyle, HTC sells stake

2013-09-27 17:37:00| Telecompaper Headlines

(Telecompaper) Audio brand Beats Electronics has announced that the Carlyle Group has agreed to make a minority investment in the company. Carlyle will work with the Beats management team to continue expanding the brand and building the business both domestically and internationally. Additional terms of the transaction were not disclosed. It is expected to close in Q4 2013. Beats also announced that it has entered into a definitive agreement to reacquire a minority stake in Beats held by HTC. As a result, HTC will no longer have any ownership in Beats. HTC said it sold a 24.84 percent stake in Beats for a total USD 256 million. It also received USD 150 million from beats to pay off a promissory note.

Tags: investment sells beats stake

Category:Telecommunications

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