Beats Electronics LLC, based on Dba Press via US rapper Dr. Dre and tune producer Jimmy Iovine mentioned non-public fairness firm Carlyle Group LP has agreed to make a minority funding audio technology firm. Terms of the transaction were not disclosed. On the other hand, an individual accustomed to the topic, who was now not licensed to talk about financial important points of the deal publicly, said Carlyle would make investments $500 million in Beats Electronics, valuing it at over $1 billion.
Fairness for the funding will come from affiliates of Carlyle companions V, Carlyle’s $thirteen.7 billion U.S. buyout fund. Beats Electronics also mentioned it agreed to purchase again the minority stake held using Taiwanese smartphone maker HTC Corp in the company. HTC offered a 50.1 percent stake in the company in 2011 but bought 1/2 of it a year later. Founded in 2008, Beats Electronics sells branded headphones, earphones, and audio systems, in addition to Beats Audio instrument expertise.
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