Home >  Blossary: Acquisitions made by Apple  >  Term: Beats Electronics
Beats Electronics

Beats Electronics is an American producer of audio products headquartered in Culver City, California, U.S. The company was founded by rapper and hip-hop producer Andre "Dr. Dre" Young and Interscope-Geffen-A&M Records chairman Jimmy Iovine.

For a period, the company was majority-owned by Taiwanese smartphone maker HTC—the company reduced its stake to 25% in 2012, and sold its remaining stake back to the company in 2013; concurrently, Carlyle Group replaced HTC as a minority shareholder, alongside Dr. Dre and Iovine, in late 2013.

On May 28, 2014, Apple Inc. announced that it would acquire Beats for US $3 billion in a cash and stock deal, expected to close by the end of 2014.

0 0

Acquisitions made by Apple

Category: Technology

Total terms: 5

Other terms in this blossary

Creator

  • rufaro9102
  • (Harare, Zimbabwe)

  •  (Bronze) 259 points
  • 100% positive feedback
© 2024 CSOFT International, Ltd.