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Rumor: Apple to Acquire Beats for $3.2 Billion USD

According to the Financial Times, Apple is in talks to acquire Beats in the very near future. The deal would reportedly see the Cupertino-based tech giant purchasing the Dr. Dre- and Jimmy Iovine-founded Beats for $3.2 billion USD – Apple’s largest acquisition to date. As CNBC notes, the deal would also be a radical departure from the norm for Apple and CEO Tim Cook as the company was extremely reluctant to pursue high-profile acquisitions under the late Steve Jobs. While it remains unknown how exactly Beats would be integrated into current and future Apple products, the importance of the brand’s position in the premium headphones market, as well as its newly launched Beats Music streaming music service are likely motivators for the rumored acquisition – especially considering the recent decline of digital downloads.

Stay tuned for more on the deal, which is expected to be finalized as early as next week.

Date: May 8, 2014  /  Views: 10159  /  Author: T.S. Fox  /  Source: Financial Times
Category: Tech  /  Tags: Apple, Beats by dre, Dr. dre, Jimmy iovine, Beats