As reported by The Financial Times, Apple is in the final talks to acquire Beats Electronics for $3.2 billion.
Apple will acquire Beats’ streaming music service, which launched this year, and its audio equipment business, which includes its brand of headphones and audio equipment. The Beats management team will report to Mr Cook, said people familiar with the deal.
FYI, Apple’s largest purchase to date was the $404 million they spent to acquire NeXT in 1996.
This acquisition of Beats Electronics that costs $3.2 billion dollars will top the 1996 deal by A LOT.
Tim Cook said earlier this year that the company was open to making large acquisitions if the purchases made sense. “We have no problem spending 10 figures for the right company, for the right fit that’s in the best interest of Apple in the long-term. None. Zero.”