Apple to purchase Beats Electronics for $3.2 billion

Saqib Shah
May 9, 2014

Update:  Tyrese Gibson, or whoever manages his Facebook account, has removed the video supposedly hinting at Apple’s acquisition of Beats mentioned below. However, you can still watch the NSFW clip on Youtube. Just scroll down to the end of this article to see it.

In what is reported to be its biggest acquisition to date, Apple could be in the process of purchasing high-end headphones manufacturer Beats Electronics for $3.2 billion.

The company, co-founded by hip-hop mogul Dr Dre, also has an ad-free music streaming app known as Beats Music.

 If the deal goes through, Apple will acquire the subscription business alongside Beats’ hardware division, with the Beats management team reporting to Apple CEO Tim Cook, according to the Financial Times. The news is also being reported by several other prominent media outlets, including The NY Times.

Confirmation of the acquisition, however, may have come from the man himself and one of his well-known celebrity friends.

In a candid video clip on Facebook, actor/musician Tyrese gibson (star of the Fast and Furious films) congratulates Dre on becoming the first billionaire in hip-hop. Dre himself can be seen in the background.

The NSFW clip is attached below. It certainly looks like they’re having a blast.

The US exclusive Beats Music app is currently outperforming its rival streaming services – such as Spotify, Deezer and Pandora – on the Apple app store.

Co-founders and music producers Jimmy Iovine and Dr. Dre said the poor sound quality of Apple’s earbuds is what initially inspired them to create Beats Electronics in 2008.

The popular brand now owns the biggest share of the headphones market, with its high-priced hardware accessories ranging from $99 to $450.

With no confirmation from Apple, this story is currently developing so stay tuned for more updates as and when they arrive.


About the Author

Saqib Shah

Tech/gaming journalist for What Mobile magazine and website. Interests include film, digital media and foreign affairs.

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