Beats Electronics is best known for its music streaming service and headphone brand. Now that the company is very well known, Apple is moving in.
Apple has confirmed the £1.8 billion deal, which is said to be Apple’s largest purchase to date. As part of the deal, Beats co-founders Jimmy Lovine and rapper Dr Dre will join the technology firm. The deal is thought to have made Dr Dre the first hip-hop billionaire.
With Apple owning the world’s largest download service along with a wide range of computers, laptops, tablets and phones, it’s no wonder that the Canadian firm can spend that sort of money. Apple boss Tim Cook said the new contract will allow the firm ‘to continue to create the most innovative music products and services in the world’.
Apple: First Beats Electronics, then the world…