Beats Electronics LLC (Beats), the audio brand co-founded by legendary
artist and producer Dr. Dre and Interscope Geffen A&M Chairman Jimmy
Iovine, announced today that The Carlyle Group CG, the global
alternative asset manager, has agreed to make a minority investment in
Beats. Carlyle will work with the Beats management team to continue
expanding the brand and building the business both domestically and
internationally. Additional terms of the transaction, which is expected
to close in the fourth quarter of 2013, were not disclosed.
Beats also announced today that it has entered into a definitive
agreement to reacquire the minority stake in Beats held by HTC Corp. As
a result, HTC will no longer have any ownership stake
See full press release
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