No reason to wait around for Apple’s press team: Beats bought by Apple
The news first broke on Twitter, or was it the tech sites? Who knows, but it was confirmed (we think) on YouTube:
So, Apple has finally make a jaw dropping acquisition, and it will come as a surprise to many (it certainly did to me). $3.2 billion for Beats Electronics, that maker of audio products, and more recently, a music streaming service that has proven far more successful than anything Apple has tried to create so far (its Radio service has proven a bit of a dud).
The company is less than six years old, launching its first product – Beats by Dr. Dre Studio headphones – in 2008. In 2011 HTC bought a big stake in the company, but when it sold it off it opened the window for Apple.
In January of this year, the company launched Beats Music, its subscription-based online music streaming service, and that is what Apple is probably thinking what makes the deal worth doing. No doubt there were other companies looking at Beats Electronics, which is why Apple was willing to pay $3.2 billion.
As of noon Chicago-time, there has been no confirmation of the deal from Apple, but no one is waiting around on this one, the word is out.
Note: For an opinion on the deal, Jon Maples’ post is a good place to start.