Pet Shop Boys, Neil Tennant and Chris Lowe, have left Parlophone Records after 28 years and signed a global deal to release their forthcoming studio album Electric through Kobalt Label Services .

Produced by Stuart Price, Electric will be released in June 2013. The band will embark on the “Electric” tour this year, which will include a night at London’s O2 Arena on June 18.

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“This is a very exciting point in our careers," said Neil Tennant and Chris Lowe in a statement. “We are hugely proud of the new album and are very pleased to be working in conjunction with Kobalt. We’d like to thank everyone we’ve worked with at Parlophone over the last 28 years both in the UK and abroad. When we signed to the label in 1985 we had no idea how long and successful a relationship we were embarking on. However it is also exciting now to commence a new phase working with a new team in a new business structure and we look forward to a creative and equally fulfilling relationship with Kobalt.”

The British duo, who signed to Parlophone in 1985, had four UK number ones and 42 Top 30 singles and have sold 50 million albums worldwide.

Paul Hitchman, Managing Director of Kobalt Label Services added: "The whole global Kobalt Label Services team is hugely excited to be a part of the forthcoming Pet Shop Boys release. We look forward to working in partnership with Neil, Chris, and the Becker Brown team to maximize the potential of the record, which is already sounding like a classic.”

Kobalt Label Service’s first international album releasePush The Sky Away by Nick Cave & the Bad Seeds recently debuted at number one in seven countries and was top four in thirteen other countries.

Miles Leonard, President of A&R, Parlophone, said; “Few can say they have worked with any artist for 28 years, but Parlophone have and we are very proud of that. We have been fortunate enough to have been partners in one of the most successful careers in pop culture. Neil and Chris to this day influence so many with their incredible songwriting and music. We wish them every success in the future and look forward to continuing our relationship with them across their entire and enviable catalogue.”

Part of the Kobalt Music Group, Kobalt Label Services (KLS) provides full-services solution to releasing and marketing records while allowing artistst to maintai ownership of their masters.