Apple agreed to buy the headphone manufacturer Beats Electronics for $3 billion, in an interview , CEO Tim Cook shared his vision for the future of the company and confirmed that after the completion of the transaction service that Beats Music will be as before available on Android and Windows Phone. Cook added that Beats will remain an independent brand. At the same time Apple will not remove the application from Google Play and Windows Phone Store.
Apple CEO Tim Cook said that the music is of particular importance for the company obligated return success on iPod. “That’s why we continue to invest in music and combine extraordinary team to be able to create the most innovative music products and services in the world ,” – he said.
Beats Electronics will be the largest acquisition of Apple. Most of the amount ( $ 2.6 billion) will be paid in cash , the rest, in the form of Apple Shares. It is expected that the transaction will close on September 2014 . Under the terms of the agreement , co-founders Beats – hip- hop artist and producer Jimmy Lovine and Dr.Dre will join the Apple team. It is known that Lovine is CEO of the record label Interscope Geffen A&M, owned by Universal Music Group.
Beats Electronics was founded by Dr.Dre and his friend Jimmy Ayovinom in 2008. The company is based in Santa Monica, CA . Beats specializes in manufacturing headphones and premium speakers and its annual revenue is estimated at $2 billion Apple negotiated the acquisition of Beats Electronics, earlier in May, reported The Wall Street Journal.