Wednesday, May 28, 2014

WOW!! It’s official: Apple to buy Beats Electronics for $3 billion

Apple Inc. will officially pay $3 billion to buy Beats Electronics, the headphone and music-streaming service founded by West Coast rapper Dr. Dre and music executive Jimmy Iovine, Re/code reported. The price comes in $200 million lower than the number initially reported on May 8. Beats gives Cupertino-based Apple a head start in product development and brings “incredible people, kindred spirits” into Apple’s fold, Re/code quoted Apple CEO Tim Cook as saying.