by Kolapo Olapoju
Two months after signifying its interest in ‘Beats by Dre, Apple has announced that it has finalised its $3 billion acquisition of Beats Electronics and Beats Music.
The deal had been sealed for some time, but only just got confirmed on Friday, 1 August, after it received the US government’s seal of approval.
The deal will give Apple control of the audio firm’s hardware and music streaming businesses, with Beats executives Jimmy Iovine, Dr Dre, and Ian Rogers joining its ranks.
Apple CEO, Tim Cook announced the agreement on Twitter and formally welcomed the Beats founders, and the company also released an official statement about the merger on their website.
“Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family,” said the Apple team. “Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do.
“Beats co-founders Jimmy Iovine and Dr Dre have created beautiful products that have helped millions of people deepen their connection to music. We’re delighted to be working with the team to elevate that experience even further. And we can’t wait to hear what’s next.”