Beats Electronics Gets Investment From Carlyle Group

Santa Monica-based Beats Electronics, the audio accessories brand founded by Dr. Dre and Jimmy Iovine, said today that it has received a minority investment from The Carlyle Group. Financial terms of the deal were not announced. Beats said that Carlyle will work with the company to expand its brand and build its business. As part of the deal, Beats has also re-acquired the minority stake of the firm which had been owned by HTC Corp., and HTC no longer has an ownership stake in Beats. The investment came from Carlyle Partners V, Carlyle's $13.7 billion buyout fund. More information »