According to a new report from Financial Times, Apple is currently in the final stages of acquiring Beats Electronics (makers of Beats headphones and Beats Music streaming service) for $3.2 billion. This would be Apple’s largest acquisition of another company ever.
The report suggests that the deal could be officially announced as soon as next week.
“Apple is closing in on its largest ever acquisition with the planned $3.2bn purchase of Beats Electronics, the headphone maker and music streaming operator founded by music producer Jimmy Iovine and the hip-hop star Dr Dre. The deal could be announced as early as next week, people familiar with the negotiations said, but they cautioned that some details had yet to be agreed and talks could still fall apart.”
Beats would give Apple the edge it needs to fight off competitors like Spotify and Google Play Music from its iTunes service. The acquisition would also help Apple expand into different markets like audio technologies and wearable devices.
We’ll keep you posted as we learn more info. Stay tuned.
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