Visit to any well-stocked Apple retailers, chances are you will see Beats by Dr. Dre collection of audio products on their shelves as well. Believe it or not, these products soon will belong to Apple itself as the Cupertino giant is working to acquire the well-known lifestyle-oriented audio company.
According to Financial Times, it’s not for cheap either since the acquisition will apparently cost Apple USD 3.2 billion (RM 10.3 billion). In exchange for that large amount of money, Apple will receive both the audio products division and Beats Music streaming service that the company has launched earlier this year.
Additionally, Beats managerial team will also report to the CEO of Apple, Tim Cook. Apparently, there are possibilities that both companies might be able to announce the deal as early as next week but reports did state that the deal is not fully finalized and it could still go down the drain.
At USD 3.2 billion, it is certainly a bold and expensive move by Apple but although let’s not forget that the company has USD 133 billion (RM 429 billion) of cash in its pocket. So, there is no doubt that Apple is able to afford to buy Beats at that price.
[Source: Financial Times. Thanks to everyone that tipped in!]