Apple in talks to buy Beats Electronics, an American producer of audio products and equipment based in Santa Monica, California and according to a report from Financial Times and other media outlets like NY Times, Bloomberg, Re/Code and WSJ have confirmed this report.
And report suggests that, Apple could buy this company for $3.2 Billion and this acquisition might be the Apple’s largest acquisition till date and this step from Apple suggests that it is necessary to spend huge amount in order to acquire any services at this point of time as Google and Facebook has already spent billions of dollars to acquire services such as Whats App, Instagram, Nest, Ad0metry etc.
Founded in 2008, Beat Electronics is one of the most popular and trusted manufacturer of audio product and it was founded by rapper and hip-hop producer Andre “Dr. Dre” Young and Interscope-Geffen-A&M Records chairman Jimmy Iovine.
In addition to this, Beats acquisition by Apple could be announced by next week but it might take plenty of time to get declared but apart from deal, Apple will use Beats services in improving its iTunes and iTunes radio.