Beats is looking to buy out HTC’s stake in the company, according to a report from the Wall Street Journal. Beats Electronics LLC is looking to acquire a new investor, that can help the company expand into car audio systems and a possible streaming music service. HTC acquired a controlling stake in Beats in 2011 with a $300 million deal, with the company currently holding a 25% steak in Beats. The deal saw HTC handsets tout Beats branding and music playing software as well as shipping with Beats earbuds.
Over the course of the last two years, HTC’s market share has declined, while Beats has continued to grow. Beats reportedly has new investor interested in helping to fund the company’s growth by providing secure debt-financing that would enable Beats to take a minority position in the company.
No official details have been revealed of the reported deal, we will keep you updated as details emerge.
[Via: Talk Android]