TechTaffy

tech:

taffy

Beats Receives Investment From Carlyle Group, Buys Out HTC

By TechTaffy Desk

Beats

The Carlyle Group has agreed to make a minority investment in Beats Electronics, the audio brand co-founded by music icon Dr. Dre and Interscope Geffen A&M Chairman Jimmy Iovine.

Carlyle will work with the Beats management team to continue expanding the brand and building the business both domestically and internationally, says the company.

Additional terms of the transaction, which is expected to close in the fourth quarter of 2013, were not disclosed.

In another development, Beats has entered into a definitive agreement to reacquire the minority stake in Beats held by HTC.

Equity for Carlyle’s investment will come from affiliates of Carlyle Partners V, Carlyle’s $13.7 billion U.S. Buyout fund.

[Image courtesy: Beats Electronics]

Just in

Fundings

Wiz raises $1B

Cloud security company Wiz has raised $1 billion in a funding round.
Fundings

Augment raises $227M 

Palo Alto, Calif.-based Augment, an AI coding assistance startup, has emerged from stealth with the announcement of a $227 million Series B funding round.
Fundings

Dropzone AI raises $16.85M

Dropzone AI, a company that delivers pre-trained autonomous AI analysts that work alongside human analysts on security operations teams, has raised $16.85 million in a Series A funding round.
IT

Akamai to acquire Noname Security for $450M

Akamai Technologies has entered into an agreement to acquire San Jose, California-based, privately-funded API security company Noname Security, for approximately $450 million.
AI

Ukraine unveils AI-generated foreign ministry spokesperson — The Guardian

Victoria Shi is modelled on Rosalie Nombre, a singer and former contestant on Ukraine’s version of the reality show The Bachelor, according to the report on The Guardian.