BREAKING NEWS: Apple In Talks To Buy Beats For $3.2B
In Australia the headphone brand that was initially distributed by Convoy and later by Ingram Micro has been the #1 headphone brand competing head on with Sennheiser and Monster for marketshare.
According to the Financial Times Apple is close to announcing the acquisition of Beats Electronics the headphone maker and music streaming Company that was founded by music producer Jimmy Iovine and the hip-hop star Dr Dre.
The deal could be announced as early as next week, people familiar with the negotiations said, but they cautioned that some details had yet to be agreed and talks could still fall apart.
A deal of this scale would represent a radical departure for Tim Cook, chief executive of the iPhone maker: under the late Steve Jobs, Apple was reluctant to pursue high-profile acquisitions.
According to sources. 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. Apple and Beats declined to comment.
While Beats commands a leading position in the premium
For several competing headphone brands who currently sell
The deal is likely to be seen as an admission that Apple
Recently Apple executives admitted that its brand is in need
CNBC claim that Apple is paying a hefty premium for cool:
Mr Cook said last month Apple was “on the prowl”
The Beats move follows a string of high-priced deals in
Silicon Valley, after Google acquired smart home developer Nest Labs for $3.2
billion and Facebook offered an initial $19 billion for WhatsApp Messenger.: