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Apple Will Reportedly Buy Beats Electronics For $3.2 Billion

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Apple Will Reportedly Buy Beats Electronics For $3.2 Billion

image credit: cnet

Hip-hop is about have its first billionaire thanks to Apple. Although it has not been confirmed, Apple will be reportedly buying Beats Electronics (Beats by Dre) for $3.2 billion and since Dr. Dre has a big stake in that company, the acquisition money may push him into the billionaire list.

In a Facebook video posted by musician Tyrese Gibson, Dre says that his life has changed “in a big way.” Prior to that, Gibson made the statement that “The Forbes [billionaire] list just changed.” So, even though Apple has not confirmed anything, Dr. Dre is already letting everyone know.

Details have yet to be finalized according to more official reports from Reuters and other publications, but it does seem like the billion-dollar acquisition will take place. The only other possibility is that Dr. Dre decided to troll everyone by making those statements in response to rumors surrounding the deal.

Beats Electronics no longer focuses solely on headphones but rather music delivery services as well. Earlier this year, it launched the Beats Music application for streaming music, which may be part of the reason that Apple is reportedly interested in the company.

Apple already has iRadio for iOS which provides music streaming and in addition to that, iTunes is still one of the most popular music services. However, many reports have said that Apple wants to double-down on the music streaming market and an acquisition of Beats Electronics may allow it to do that.

Source: cnet

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