Its been speculated for weeks, and now its official. Apple Inc. made a deal to buy Beats Electronics for $3B – yes, that’s BILLION – on May 28th.
The staggering purchase price makes it Apple’s largest acquisition to date.
Along with the popular ‘Beats by Dr Dre’ headphones, the deal includes the Beats music service which has an estimated 250k paid subscribers who pay $10 a month for unlimited music streaming.
Some don’t think it was such a smart deal on Apple’s part, with Beats only being worth an estimated $1.0B. However with the rapid decline of digital downloads, music streaming services seem to be the way of the near future.
This may be an excellent investment on Apple’s part, as they can combine the Beats service with their popular iRadio service.
Do you think Apple’s acquisition will hurt the ‘Beats by Dr Dre’ franchise?
Or will it open it up to more loyal Apple fans?
Share your thoughts below!