Apple closes acquisition of Beats
Published on Aug 2, 2014 7:19 PM
SAN FRANCISCO (AFP) - Apple said on Friday it closed its US$3 billion (S$3.7 billion) deal for Beats, the high-end audio equipment and streaming music service, a tie-up that could allow the iPhone maker to reach new audiences.
“Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family,” Apple said on its website.
“Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do. Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music.”
Apple offered no indication of any new products or services it may offer with Beats, but speculation has swirled around the possibility of new wearable tech that may be on the horizon.
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