Noel Lee on Apple/Beats Deal: "Apple Acquires a Monster"
When it was first reported earlier this month that Apple was in talks to acquire Beats Electronics, Noel Lee- founder of Monster, the company that partnered with Beats for the first few years of its existence- issued a statement congratulating the parties, while also talking up Monster’s post-Beats headphone offerings.
Now that the Apple/Beats acquisition is official, the Head Monster issued another statement on Friday:
A 3 billion dollar deal for Beats is an incredible achievement for Jimmy and Dre. We are glad to see that the company that we started together would turn into a Monster. The size of this investment shows what can be possible with Monster with our own new technologies in the headphone and speaker space. We look forward to our future collaborations that opens our eyes to how companies like ours can be valued as a part of youth and music culture. It will be exciting to see how this marriage will explode the portable music category once again. Monster will indeed play an important role for bringing incredible music experiences to consumers, as it did when Monster created Beats
Monster was a partner and manufacturer of Beats, starting in 2008, but found itself cut out of any equity when Beats was acquired the first time, by HTC, in 2011.