Smartphone maker HTC is to buy a 51 percent stake of US-based company Beats Electronics for £190 million in an effort to fend off rising competition and enhance its branding.
Round-up of today’s M&A deals
Smartphone maker HTC is to buy a 51 percent stake of US-based company Beats Electronics for £190 million in an effort to fend off rising competition and enhance its branding.
The deal marks the fifth acquisition for HTC this year, as the company fights to increase share in a market where Apple and Samsung are dominating.
Beats Electronics makes high-end headphones and speakers is best known for its Beats by Dr. Dre line of headphones. It was founded by Jimmy Iovene the current chairman of Interscope records, who will stay on to run the company and Dr Dre, a US rapper and music producer.
HTC expects to have a number of products that incorporate Beats technology on the market by the end of the year, says Jason Mackenzie, Beats Electronics’ president for global sales and marketing.
Round-up of today’s M&A deals
- Private equity firms Carlyle and Unison Capital are to sell part of its investment in Japan’s Covalent Materials a solar wafer business, as they seek to return cash to their investors
Value: £279.4 million
Advisers: Citi
- Capella has acquired Resource Development International, an independent provider of UK university qualifications by distance learning
Value: £9.3 million
Advisers: undisclosed
- Travel firm MakeMyTrip has, along with its largest share holder SAIF Partners, acquired a 76.6 per cent stake in Le Travenues Technology, which operates online travel search engine www.Ixigo.com
Value: £11.5 million
Advisers: undisclosed
- Active Energy Group has acquired the 27.2 per cent stake in Active Energy Limited, the Group’s wholly owned subsidiary, currently held by SDC Industries
Value: undisclosed
Advisers: Merchant Securities Limited
- Datatec, an ICT business has made a purchase through its subsidiary Logicalis Group
Value: undisclosed
Advisers: Jefferies International Limited, College Hill
