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Apple to Buy Beats for $3.2 Billion

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Apple is close to inking a deal to acquire Beats for $3.2 billion USD. Buying the Dr. Dre and Jimmy Iovine-founded company would be Apple’s largest acquisition to date. Beats is known for having tremendous success in the premium headphones market. They’ve also launched Beats Music, a streaming music service that competes directly with Spotify. The acquisition would give Apple the company’s audio hardware as well as the streaming service, which could bring more talent to future Apple products and devices in the wearable space as well as furthering iTunes and iTunes Radio. Apple and Beats have yet to officially confirm these reports but Dr. Dre was hanging out with Tyrese Gibson and friends last night where a video was recorded and Dre’s quoted calling himself the “first billionaire in hip hop”.

via FT