Dallas, Texas 05/29/2014 (FINANCIALSTRENDS) – Apple, Inc. (NASDAQ: AAPL) has now announced it has agreed to buy the critically acclaimed subscription-streaming music service-Beats Music as well as Beats Electronics, that makes the very popular Beats headphones and speakers as well as audio software. As part of this acquisition, the co-founders of Beats, Jimmy Iovine & Dr. Dre will now join Apple. The company is acquiring these 2 companies for a total amount of $3 billion, and this will be made up of the purchase price of around $2.6 billion and around $400M that will vest over a period of time.
Bonding with Apple
Apple’s CEO, Tim Cook said that music is an extremely important part of everyone’s lives and it also holds a very special place within the hearts at the company. That is exactly why the company had continued to investing in music & they are bringing together the extraordinary teams so that they will be able to continue with creating the most-innovative music products & services across the globe. Jimmy Iovine said that he always knew in his heart that Beats had belonged with Apple Inc (NASDAQ:AAPL). The idea when they started this company was inspired by AAPL’s unmatched ability to effectively marry culture & technology.
The No 1
Apple’s very deep commitment to the music fans, artists and songwriters as well as the music industry is an extremely special fact. Iovine has also been at the fore-front of innovation within the music industry literally for decades, & he has also been the instrumental partner for Apple & iTunes® for over a decade. He has also produced/ collaborated with many of the most-successful artists in iTunes history and helped in making it the number one music retailer in the world. Now, Beats and Apple will make music while the sun shines and as they play along, they will also create history.