iPhone Maker In Talks To Buy Dr Dre's Headphone Firm

iPhone Maker In Talks To Buy Dr Dre's Headphone Firm

Apple is believed to be finalising a deal to by headphone maker Beats Electronics for $3.2bn.

The firm, founded by music producer Jimmy Iovine and the hip-hop star Dr Dre, is best known for its distinctive headphones.

It is claimed a deal could be announced within days - and mark Apple boss Tim Cook's biggest ever acquisition.

Apple will acquire Beats’ streaming music service, which launched this year, and its audio equipment business, which includes its brand of headphones and audio equipment, according to a report in the Financial Times.

The Beats management team will report to Mr Cook, said people familiar with the deal.

Apple and Beats declined to comment.

However, Apple boss Tim Cook said last month Apple was 'on the prowl' for more acquisitions, after buying 24 companies in the past 18 months and he was not averse to large acquisitions.

The potential $3.2 billion deal would mark Apple’s largest acquisition of another company ever.

It is believed Apple is also interested in Beats expertise in developing wearable products and it edges closer to a much anticipated iWatch launch,

The Beats move follows a string of high-priced deals in Silicon Valley, after Google acquired smart home developer Nest Labs for $3.2bn and Facebook offered an initial $19bn for WhatsApp Messenger, and then bought VR firm Oculus for $2bn.

Apple executives Tim Cook and Eddy Cue have previously met with Iovine to discuss streaming music services and Apple and Beats have partnered up to sell Beats earphone products in Apple Retail stores

-Culled From DM

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