Apple will pay $ 3.2 billion for Beats Audio
According to various sources, Apple is about to make the biggest acquisition in its history. The iPhone maker would intend to annex Beats Audio. This company is known for a successful series of headphones, and also offers a music streaming service.
Financial Times spread rumors of the acquisition first, USA Today could then verify this story with its own sources. According to the sources, the acquisition would likely be made next week. Publicly known Beats Audio was founded seven years ago by Jimmy Iovine and rapper Dr. Dre. The company developed high-end headphones that found a great outlet. Beats also launched a music streaming service in early 2014. The reason behind the creation of Beats Audio would otherwise give an ironic twist to the acquisition. Iovine and Dr. Dre founded the company at that time because they were not satisfied with the sound quality of the ear buds that Apple produced for the iPod. Another important reason for the acquisition of Beats Audio can be the Beats Studio which would help Apple to compete with famous music streamers like Spotify.