Apple Said to Be in Talks to Buy Beats for $3.2 Billion
Apple is in talks to acquire Beats Electronics for about $3.2 billion, according to a person briefed on the matter.
A deal could be announced next week, but may still fall apart, this person cautioned.
An acquisition would be Apple's largest ever and would see the maker of the iPhone acquire the biggest manufacturer of high-end headphones.
Beats was founded by Jimmy Iovine, the music producer, and Dr. Dre, the rapper and producer, and has invigorated the market for premium headphones and portable speakers. More recently, Beats began a streaming music service that competes with Spotify and Apple's own iTunes music service.
For Apple, the deal represents a major break in its acquisitions strategy. To date, Apple's has focused on buying technology providers that it then incorporates into its existing products. But by buying Beats, Apple's chief executive, Tim Cook, would signal his willingness to acquire established brands.
The Financial Times first reported news of the deal.
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