Beats for Billions! Apple close in on deal for Beats Electronics
Apple is said to be in talks to buy audio equipment manufacturer Beats Electronics for $3.2 billion, which would be the company’s biggest acquisition to date.
Beats Electronics was founded by rapper and hip-hop producer Dr Dre in 2008, and it products, most notably their Beats headphones have become a worldwide success. Beats headphones have become a fashion accessory for the rich and famous, as well as trend setters, and the new deal if finalised would surely break them into the mainstream.
Sources state that the deal could be announced in a matter of days, although neither company has commented on the news. If a deal is made, it would be Apple’s biggest acquisition to date and would also give them access to Beats Music, an online music streaming service similar to Spotify.
Some reports state that Apple is also interested in Beats Electronics expertise in developing and innovating wearable devices as it moves closer to the much anticipated and rumoured iWatch launch.
This latest deal follows a string of high profile acquisitions in Silicon Valley with Google purchasing Nest Labs for $3.2 billion, and Facebook acquiring WhatsApp for $19 billion and virtual reality firm Oculus for $2 billion.