Apple in negotiations to purchase Beats Electronics for $3.2 billion
Dr. Dre and Jimmy Iovine’s Beats Electronics may be quickly become Apple’s latest acquisition… at the impressive price of $3.2B. Most well known for designer headphones, Beats recently launched the streaming music service Beats Music, a platform that has already seem impressive user acquisition in the few short months since it launched. Originally reported by The Financial Times and confirmed by Bloomberg, New York Times, and The Wall Street Journal, this would be the largest acquisition in Apple’s history.
As iTunes Radio continues to fall short of Pandora, Apple may be looking to turn Beats into its solution for Spotify. Pairing Beats Music’s early success with Apple’s extensive licensing deals could be the partnership both companies need to completely corner the digital music market.
H/T: Business Insider