Market Updates
Apple and Beats Electronics Talk $3 Billion Deal
Bikram Pandey
09 May, 2014
New York City
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Apple Inc in is in talk to acquire Beats Electronics for as much as $3 billion that will include its headphone business and musich service division. The Beats deal will be the largest acqusition in Apple''s history.
Apple Inc is said to be in discussion to acquire privately held for Beats Electronics for as much as $3 billion according to people close to the company.
The maker of popular Beats by Dr. Dre headphones would be the largest purchase by Apple as sales of music through the iTunes stores slowdown and more people around the world opt for streaming music services.
As many as 28 million people are said to be paying $1.1 billion around the world for music streaming services, according to the data available from International Phonographic Industry.
The largest Internet radio service is operated by Pandora with 75 million monthly users.
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