Apple may acquire Beats Audio for $3.2 billion
Soon after HTC had sold its stake in the famous Beats Audio, there were questions raised about its future. However seems like the audio company has caught the eye of none other than Apple.
According to sources, Apple is currently negotiating with Beats Audio to acquire the company for a whopping $3.2 billion. Further, the negotiations seem to be positive and the deal is expected to be announced as soon as next week. At the current price, this would be the biggest acquisition from Apple till date.
What is surprising is that, Beats Audio was evaluated at just $1 billion recently. The fact that the company had recently had started a music streaming service that competed with Apple’s iTunes Radio could have fuelled the acquisition. Either ways, it’s certainly good news for music producer Jimmy Iovine, and rapper Dr. Dre, who started the company with just $500 million investment.