Boston, MA 05/29/2014 (wallstreetpr) – Technology bellwether and smartphone and tablets maker, Apple Inc. (NASDAQ:AAPL) has revealed that it has agreed to pay Beats Electronics and Beats Music to bring the two companies into its fold. The company believes that the latest buying of music company is in tune with its identification with a music since it is an important part of its ‘DNA’.
Acquisition Of Beats
The New York-based company will pay about $2.6 billion to acquire a controlling interest in Beats Electronics and Beats Music, which is a subscription streaming music service, while approximately $400 million will be paid over time.
Within a span of five years time, the Beats “b” became the brand of choice in the world of music and sports, and leading the market in the headphone premium segment. This is very well established by the fact that music superstars such as Lil Wayne, Nicki Minai, and Lady Gaga have gone to the extent of customizing their design to Beats headphones and speakers. This apart, Alexander Wang, Snarkitecture, and Futura, fashion designers and street artists, have also collaborated to make special limited products. Similar is the case with regard to athletes Serena Williams, LeBron James, and Neymar for using Beats for their training and game process.
Apple found that Beats has rapidly become pop culture’s element in the US. Therefore, the acquisition of Beats product line up can be offered in a number of countries from its Apple’s retail stores, Apple Inc. (NASDAQ:AAPL) Online Store, and at selected Authorized Resellers of Apple.
If the electronics segment brought emotion, energy, and playback excitement in the recording studio back to the listening experience, Beats Music offers outstanding curated listening experience.
Management Speaks
Apple’s CEO Tim Cook views music as an integral part of the company and holds a special place in Apple Inc. (NASDAQ:AAPL)’s progress. Therefore, it is not surprising to keep investing in music and bring extraordinary teams to create innovative music products and services around the world.
