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.
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