Record: Apple in Talks to Purchase Beats Electronics for $three.2 Billion

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Is this how Apple hopes to get its groove back?

Apple is close to buying Beats Electronics for $ 3.2 billion, according to a report late Thursday in the Financial Times. Bloomberg, The New York Times and the Wall Street Journal have since confirmed the report with their own sources.

The deal would mark Apple’s largest acquisition to date by far and comes at a time when other tech giants like Google and Facebook are spending billions on acquisitions like Nest and WhatsApp, respectively.

Beats was founded by rapper Dr. Dre and famed producer Jimmy Iovine. The company sells a near-ubiquitous line of headphones and earlier this year launched a music streaming service similar to Spotify, though the latter has reportedly gotten off to a bit of a rocky start Read more…

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