Thursday, 29 May 2014

Apple to Acquire Beats Electronics for $ 3 billion

Tech giant Apple has announced to acquire Beats Electronics - a major producer of headphones and audio equipment for $3 Billion. Apple will pay 2.6 billion in cash and 400 million shares. It is expected that the transaction will close in the next fiscal quarter. The acquisition is the largest in the history of the company.  founders of Beats Electronics, Dr. Dre and producer Jimmy Yovin, after completion of the transaction will join the team as an Apple employee.

In addition to production facilities for the manufacture of audio equipment premium Apple will own music service Beats Music, which can be integrated with iTunes. Tim Cook, CEO of Apple, said that the team will bring the musical component to a new level. During the interview, the Internet edition of Re / code Tim Cook said the following:

"We combine our outstanding team to continue to create the most innovative musical products, services worldwide."

Obviously, Apple is really interested in the services, which give unlimited access to music for a certain monthly fee. Earlier there were rumors that in 2010 Apple was in talks with various music companies to establish a similar service, but no such action to no avail.

Previously, Tim Cook said that the entire team Beats Electronics will join Apple and will work under the direction of Eddy Cue, senior vice president of Apple's software.

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