HTC and Beats by Dre End Partnership, Beats Buys Back its $265 Million in Shares

We can’t say that we didn’t really see this coming. Rumors a few weeks ago leaked that Beats by Dre was toying with the idea of buying out HTC’s share in their company and today it actually happened. This morning HTC announced that Beats would be buying the last 25 percent share that HTC still owned in Beats for the sum of $265 million.

This marks the end of a two year partnership between the two companies. When HTC first invested in Beats, it was a surprising move, but one that looked like it could have had a lot of upside if done well. Unfortunately for the two, it never really flourished like they hoped and all the consumers got out of it was the Beats software that would come installed on HTC devices. With HTC struggling to push units compared to Samsung, Beats probably wanted to make sure they were separated from that. HTC did say that they would “continue to partner [with Beats] as future opportunities arise.”

Are you going to miss Beats by Dre?

Via: Engadget