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A full churn of the rumor mill and an infamous viral video (ft. Tyrese) later, Apple has finally officially announced its purchase of Beats Electronics and Music – its biggest acquisition ever. Sweetening the deal, Beats co-founders Dr. Dre and Jimmy Iovine will also be adopted into the Apple family. Cupertino’s finest settled on a $3 billion price tag for both the electronics division and music subscription service, by no means a small price but less than the original projection of $3.2 billion. While the purchase, rightfully so, will send the duo of Dre and Iovine jovially giggling on their way to the bank, the potential for Beats’ expansion under Apple is staggering. View the official press release here before speculating in the comments below.