Apple officially announced the acquisition of Beats Electronics for $3 billion



Apple officially announced the acquisition of audio manufacturer Beats Electronics for $3 billion, according to a press release from the California giant . Initially, sources reported that it was supposed to be the sum of $3.2 billion, but Apple revised transaction and buying Beats becomes the largest in history.

The fact that Apple buys Beats Electronics, was known in early May. Co-founder of Beats, Artist Dr. Dre, boasted that he would be “the first billionaire in hip-hop .” Heads of Apple, on the contrary, behaved very cautiously .

Despite apparent differences , these companies have more in common than it might seem at first glance. Apple founder Steve Jobs was very friendly with Beats co-founder Jimmy Lovine. He helped recruit music labels and artists to support iTunes Store in the beginning.

Beats is also well known for their headphones. Apple is considered as a reasonable prospect , and the company is looking at seriously to develop their design in future models . However, it is likely that Beats will remain an independent brand and the subscription has been has been  dropped to $99.99 and extended the 7-days free trial to 14 days.

Apple confirmed that Dr. Dre and Jimmy Lovine will get senior positions in the corporation . In particular, Lovine will become the new head of the musical direction of the corporation. The founders of Beats Electronics, may take part in the annual conference WWDC 2014 , which will be held on June 2.

Press release:

press release

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