Finally Apple Buys Beats, Unveils New Product
Onyeka Ibeanusi | Thursday, 29 May 2014 | 394 Total Views
After weeks of speculations, Apple Inc. makers of iphone finally announced the takeover of Dr. Dre's Beats Electronics for a whopping sum of $3 billion, including $2.6 billion cash up front and approximately $400 million in stock that will vest over time.
As part of the deal, Beats co-founders Dr. Dre and Jimmy Iovine will join Apple in undisclosed roles.The $3 billion purchase price includes Beats Music, the sister company that runs a subscription streaming music service. In fact, Apple’s press release mentioned that before the more well-known headphone business.
The company that is trying hard to catch up with spotify and others also announced its new product, the Beats Solo². A successor to the current Beats Solo HD — a redesigned on-ear model with re-tuned audio.