Apple Buys Beats Electronics For $3B

Posted By: Arin Dey - May 29, 2014
Few sources over internet revealed that Apple is buying Beats Electronics for $3 billion. This acquisition will give the iTunes introducer a boost in the music revolutionized world. In this deal, Apple will acquire the Beats Music and associated businesses. Beats co-founders Jimmy Iovine and Dr. Dre are known to have their fingers on the pulse of all that is current and popular in the music industry.

Apple Buys Beats Electronics For $3B

It will be definitely a valuable asset to Apple as it looks to emphasize on its iRadio service into high as the popularity of streaming services grow day by day.

Apple CEO Tim Cook told USA Today that the company is “gaining rare talent, a fast-growing subscription service and premium headphones that have done incredibly well, but none of those are the reason for doing this deal. It’s the future we’re betting on.” 

Music streaming has become more popular. And from quite sometime iTunes has been the market leader but it has slowed down the progress slightly. Apple wants to be the top music provider inspite of different method of choice. Music has been the choice with high priority for most the people and that's where Iovine and Dre come in.

Cook also added that “We’ve found kindred spirits in Jimmy and Dre, and we’re going to advance what they’ve done to a whole different level."

Beats brand will remain same as it is now. Iovine has worked with the iPhone maker on projects for more than a decade. This deal is a good one for both parties.

Iovine also told USA today that “You feel like when you walk in here, these guys get what we do. Will our products get better? Absolutely; we want our stuff to be made by Apple. But mostly, it’s about feeling that these guys can bridge the gap between the tech and music worlds.”

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