High Tech Computer (HTC) announced on August 11 plans to invest in US-based Beats Electronics for an amount not exceeding US$309 million and will acquire a 51% stake in the company, according to a company filing on Taiwan Stock Exchange (TSE).

In a different announcement, HTC pointed out that the company has formed a strategic partnership and investment with Beats Electronics and the two brands will focus on bringing high performance sound to HTC phones.

HTC and Beats have been working together to create mobile audio experiences for consumers, which will result in a line of HTC devices integrated with Beats sound innovations, available in the fall.

Beats Electronics will continue to operate autonomously with Iovine as Chairman and Luke Wood as President and COO with its current business partnerships that include Monster Cable Products, Hewlett-Packard and Chrysler Group. Iovine will also continue serving as Chairman of Interscope Geffen A&M Records.

By: DocMemory
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