HTC and Beats deal comes to end with $265 million buyback
Barely two years after coming together in a $300 million purchase, HTC and Beats are calling it a day. The former has sold back its remaining shares (26,100) back to the latter for a deal worth roughly $265 million. The funds are already moved and the buyback is complete and HTC now has zero ownership in Beats. Not that we couldn’t see this move coming as HTC has transitioned over to BoomSound technology for its last few models. And, really, how many of you bought an HTC because it had the Beats logo on it?
Volume, unit price, and total monetary amount of the transaction:
- Original volume: 26,100 Class B Units (which represents 24.84% interest right)
- Volume sold: 26,100 Class B Units (which represents 24.84% interest right)
- Unit price: approximately USD10,153.25
- Total monetary amount of the transaction: USD265,000,000.
- The shareholding percentage in Beats after the sale is zero (0) percent.