Wednesday, May 28, 2014

Apple Confirms Purchase Of Beats For $3 Billion

Cupertino-based Apple said Wednesday afternoon that it has acquired Beats Electronics, and will pay $3 billion for the company, split between $2.6 billion upfront and $400M vested over time. The deal includes both Beats Electronics line of headphones and related business, as well as streaming music service Beats Music. The deal is expected toc lose in Q4. Beats will operate as a separate brand from Apple.