Source: Mike Snider / USA Today
Apple is set to acquire headphone maker and music company Beats Electronics for a reported $3.2 billion.
The acquisition could be announced as early as next week, the Financial Times reported, based on people familiar with the negotiations. USA TODAY independently confirmed the deal through a source who is not authorized to speak publicly about it.
If consummated, Apple’s purchase of Beats could represent the company’s largest acquisition ever. Apple and Beats declined to comment on the report.
Music mogul Jimmy Iovine and producer-rapper Dr. Dre co-founded Beats Electronics seven years ago and launched the high-end headphones craze. Earlier this year, they launched Beats Music, a premium music-streaming service.
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