Struggling mobile device maker HTC has agreed to sell its remaining 24.84 percent stake in Beats Electronics back to the audio technology firm for $265 million.
Beats Electronics is looking to buy out embattled mobile device maker HTC, which owns a 25.5 percent stake in the audio technology firm, The Wall Street Journal reports.
If it seems like there are already too many streaming music services to count, just wait until Apple and Google enter the mix. Neither mobile giant has officially confirmed plans to launch a streaming service, but both seem like foregone conclusions to challenge established players like Spotify, Pandora and Rhapsody.
Apple has met with audio technology firm Beats Electronics to explore a potential partnership involving Beats' forthcoming Daisy music streaming service, Reuters reports.
Less than a year after purchasing a 50.1 percent majority stake in audio technology firm Beats Electronics for $309 million, HTC is selling back 25 percent to Beats founders for $150 million.
HTC's Beats Electronics unit has acquired digital music service MOG. Financial terms of the deal were not disclosed.
HTC's Beats Electronics unit is reportedly in talks to acquire digital music startup MOG in an effort to create an all-you-can-eat mobile music service available across HTC devices and Beats
HTC confirmed it will purchase a 51 percent majority stake for $300 million in Beats Electronics, the headphone manufacturer founded by hip-hop icon Dr. Dre and Interscope Geffen A&M Records