Rumours today suggest that Apple could soon be spending in excess of $3.2 billion on the music-streaming and audio hardware company Beats Electronics, founded by Dr. Dre.
Last week, Apple’s CEO Tim Cook said he was “on the prowl” for new acquisitions and if rumours today are to be believed, the next company the tech giant intends to gobble up is Beats Electronics.
Insiders claim that Apple is planning on making the biggest acquisition in its history by forking out a massive $3.2 billion (£1.88 billion) on Beats, the music-streaming and headphones company founded by Jimmy Lovine and rapper Dr. Dre.
Apple won’t be the first tech company to throw an insane amount of cash over at Beats. Back in 2011, HTC bought shares in half of the company. Although it’s now sold back half of those, it still remains Beats’ biggest shareholder.
Given that this news is only a little more than a rumour at this stage it’s hard to speculate about what Tim Cook and his Apple team want to do with Beats. However, with its streaming service, pretty decent headphones and impressive audio enhancement tech that’s already been integrated into HTC handsets, the opportunities of these two companies coming together is pretty limitless and exciting for the worlds of tech and music.
By Becca Caddy | May 9th, 2014