Friday, 9 May 2014

Apple Could Buy Beats Electronics for $3.2 Billion

Apple is close to acquiring Beats Electronics, the Dr. Dre-associated company most well-known for its premium headphones, for $3.2 billion, according to multiple reports. If the acquisition goes through, it would be Apple’s largest purchase of all time. 

Beats Electronics was founded by rapper Dr. Dre and music mogul Jimmy Iovine in 2008, and is currently the largest maker of high-end headphones in America. Beats is most famous for its “Beats by Dre” over-the-ear headphones worn over the ear, which are popular with rappers and celebrities, and which start at around $300 per pair. Beats also makes in-ear headphones and a Bluetooth speaker, Beats Pill.

It’s not clear which part of Beats that Apple might envy. Recently, Beats introduced a streaming music service, Beats Music, to compete with Spotify, Rdio, and iTunes, after acquiring the MOG streaming service in 2012.

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