Apple set to acquire Beats Electronics

Apple set to acquire Beats Electronics
May 09 01:17 2014 Print This Article

Apple is set to acquire Beats Electronics

Word on the street is that Apple is about to acquire headphone maker and audio company Beats Electronics for a reported $3.2 billion. Sources told the Financial Times that the acquisition could be announced by next week.

If the Beats deal pulls through, this could become Apple’s largest acquisition to date. Both companies declined to comment on the matter as of this posting.

Rapper and producer Dr. Dre and music executive Jimmy Iovine co-founded the Santa Monica, California-based Beats Electronics seven years ago. We can say the company started the high-end headphones craze with its Beats by Dr. Dre line. It has also launched Beats Music, a premium music streaming service, earlier this year.

Source: USA Today

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