The Wall Street Journal quoted an anonymous source about Beats Electronic buying out its minority stakeholder Taiwan's HTC. Negotiating with an undisclosed new investor, the company is seeking to acquire fresh funds to develop products. The deal is expected to be finalized in the next coming weeks.
Beats Electronics is looking into several ventures for the company that would require extra funds for development. The company is planning to expand to speakers, car audio systems, other consumer electronics and a music service.
This recent development in Beats Electronics comes after the company rejected a deal that would have infused more cash for investments and dividends for partners. The rejected deal involved a partnership between Beats Electronics with mobile carrier AT&T for the former company's online music service that is set to be launched within the year.
Beats and HTC officials have all declined to make a statement regarding the buyout.
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