{"id":55010,"date":"2014-05-29T05:50:15","date_gmt":"2014-05-28T21:50:15","guid":{"rendered":"http:\/\/techielobang.com\/blog\/?p=55010"},"modified":"2014-05-29T05:50:15","modified_gmt":"2014-05-28T21:50:15","slug":"apple-acquires-beats-music-and-beats-electronics-for-usd3-billion","status":"publish","type":"post","link":"https:\/\/techielobang.com\/blog\/2014\/05\/29\/apple-acquires-beats-music-and-beats-electronics-for-usd3-billion\/","title":{"rendered":"Apple acquires Beats Music and Beats Electronics for USD3 billion"},"content":{"rendered":"

Finally, the official announcement is made. Apple has acquired Beats Music & Beats Electronics for USD3 billion. That is a lot of money for a company acquisition. Perhaps this time, it is deem as 2 company. Anyway, the transaction is expected to close end of this year, subjected to Apple’s approval.<\/p>\n

\"beats-apple\"
For illustration only. Souce: TechCrunch<\/figcaption><\/figure>\n

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There is no mention what Apple would do with Beats but it is confirmed that Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. So, be prepared for more music related hardware or software coming from Apple in the near future.<\/p>\n

Read the Press Release for more details.<\/p>\n

Press Release<\/strong><\/span><\/p>\n

\n

Apple to Acquire Beats Music & Beats Electronics<\/h2>\n

CUPERTINO, California\u2014May 28, 2014<\/strong>\u2014Apple\u00ae today announced it has agreed to acquire the critically acclaimed subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies for a total of USD$3 billion, consisting of a purchase price of approximately USD$2.6 billion and approximately USD$400 million that will vest over time.<\/p>\n

\u201cMusic is such an important part of all of our lives and holds a special place within our hearts at Apple,\u201d said Tim Cook, Apple\u2019s CEO. \u201cThat\u2019s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.\u201d<\/p>\n

\u201cI\u2019ve always known in my heart that Beats belonged with Apple,\u201d said Jimmy Iovine. \u201cThe idea when we started the company was inspired by Apple\u2019s unmatched ability to marry culture and technology. Apple\u2019s deep commitment to music fans, artists, songwriters and the music industry is something special.\u201d<\/p>\n

Iovine has been at the forefront of innovation in the music industry for decades, and he has been an instrumental partner for Apple and iTunes\u00ae for more than a decade. He has produced or collaborated with some of the most successful artists in the history of the iTunes Store\u00ae, helping make it the world\u2019s number one music retailer. Iovine and Dr. Dre are sound pioneers, artists and entrepreneurs.<\/p>\n

Beats Electronics has brought the energy, emotion and excitement of playback in the recording studio back to the listening experience and has introduced an entirely new generation to premium sound entertainment. Beats Music was developed by a team of people who have each spent their entire career in music and provides music fans with an incredible curated listening experience.<\/p>\n

\u201cMusic is such an important part of Apple\u2019s DNA and always will be,\u201d said Eddy Cue, Apple\u2019s senior vice president of Internet Software and Services. \u201cThe addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years.\u201d*<\/p>\n

In just five years since launch, the Beats \u201cb\u201d has become the brand of choice in the music and sports worlds, and is the market leader in the premium headphone market. Music superstars including Lady Gaga, Lil Wayne and Nicki Minaj have designed their own customised Beats headphones and speakers. Fashion designers and street artists such as Alexander Wang, Futura and Snarkitecture have collaborated on special limited products, while renowned athletes including LeBron James, Serena Williams and Neymar use Beats as a critical part of their training and game day process. Beats has quickly become part of pop culture in the US and with the acquisition the Beats product lineup will be offered in many more countries through the Apple Online Store, and select Apple Authorised Resellers.<\/p>\n

Subject to regulatory approvals, Apple expects the transaction to close in fiscal Q4.<\/p>\n

Formally established in 2008 as the brainchild of legendary artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics (Beats) comprises the Beats by Dr. Dre family of premium consumer headphones, earphones, and speakers as well as patented Beats Audio software technology and streaming music subscription service Beats Music. Through these offerings, Beats has effectively brought the energy, emotion and excitement of playback in the recording studio to the listening experience and has introduced an entirely new generation to the possibilities of premium sound entertainment.<\/p>\n

Beats Music is a subscription streaming music service that focuses on providing a personalised music experience for each user through a unique blend of digital innovation and musical passion. Programmed by a trusted team of well-respected music experts with over 300 years of experience across all genres, Beats Music delivers the right music for any situation, any time, and any preference, personalised to your tastes. The result is an artist-friendly digital music service that does more than simply offer access to music, but one that establishes an emotional connection to it as well.<\/p>\n

* iTunes Radio is available in the US and Australia only<\/p><\/div>\n

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.<\/p>\n

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\n(Picture Source: TechCrunch<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"

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