Taiwan-based mobile phone maker HTC has agreed to invest $300 million in Beats Electronics, a headset maker founded by record executive Jimmy Iovine and rapper Dr. Dre. The company sells gear under the Beats by Dr. Dre brand.
As part of the deal, the two companies will release a line HTC devices that include Beats sound technology starting this fall.
HTC declined to say what percentage of Beats the company will own as a result of the deal.
In a brief interview with Forbes, HTC CEO Peter Chau said the deal will bring a "unique sound experience" to HTC devices.
Iovine, the chairman of Beats and CEO of Geffen Interscope A&M Records, says the headset maker "sought out HTC in this, to help fulfill our entire dream for Beats."