Smartphone giant Apple has officially secured a deal to buy the popular headphone and music company Beats in a deal worth $3.2bn.
The deal was reported earlier this week, but has been officially announced today (Friday) and is now Apple’s biggest ever acquisition.
The deal is expected to mean that Apple could merge the company with itself, or run it separately and use the equipment in future products.
Apple has been sitting on a reported $137bn and now seems to be spending some of that cash acquiring businesses that may suit its needs. To put that level of cash into context, it’s actually around 10% of the entire US’s corporate cash.
The Beats music streaming service is most likely going to prove more valuable to Apple than the audio equipment side of the business however, with iTunes Radio being constrained legally in many countries other than the US and Australia.
The deal also makes rapper Dr. Dre the first billionaire hip-hop star, with the star confirming this over Instagram.
So could this deal mean we could see an iPhone featuring Beats speakers? It’s certainly a possibility, but it will arrive too late for the iPhone 6 that’s for sure.
However, there is nothing stopping Apple including the tech in future products, which is clearly great news for iPhone lovers out there.
Written by Luke Hatfield