Dr. Dre might just be having the best day ever. Word on the street is that Apple is planning on purchasing Beats Electronics for a whopping $3.2 Billion dollars.
“According to the Financial Times, Apple is closing in on an acquisition of Beats, the headphone manufacturer turned streaming music service. The $3.2 billion deal would give Apple control over a powerful brand, but at the same time, it would be puzzling and uncharacteristic of Apple. The FT points out it would be Apple’s biggest acquisition ever.”
“The deal could reportedly close as early as next week. It wouldn’t be the first time Apple bought up a music startup, but unlike other acquisitions in which Apple takes the talent and incorporates it into Apple products, Beats is a powerful force of its own right. Perhaps the deal has less to do with streaming music and hardware, and more to do with Topspin Media, the Beats-owned e-commerce and marketing platform. Of course, this is only a rumor. And a crazy one at that.” (Financial Times)