Dr. Dre Will Join Apple, Apple Will Purchase Beats
Article by George Norman
On 02 Jun 2014
Apple recently announced that it will pay $3 billion for Beats Electronics, the company co-founded by Dr. Dre. As part of the acquisition, the legendary artist and producer will join Apple. And so will the other co-founder, Jimmy Iovine.

“I’ve always known in my heart that Beats belonged with Apple,” said Jimmy Iovine, Chairman of Interscope Geffen A&M Records. “The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters and the music industry is something special.”

Advertising

Back in 2006, rapper and hip-hop producer Andre "Dr. Dre" Young and Interscope-Geffen-A&M Records chairman Jimmy Iovine founded Beats Electronics, company that is best known for the popular Beats headphones. To paint a clear picture, here’s a list of all that Beats Electronics has to offer:
  • Beats by Dr. Dre – line of premium consumer headphones, earphones, and speakers.
  • Beats Audio – patented software technology.
  • Beats Music – critically acclaimed subscription streaming music service.

Late May 2014, Apple announced that it entered an agreement to purchase Beats Electronics and Beats Music. As part of the aforementioned agreement, Apple will purchase the two companies for a total of $3 billion – $2.6 billion upfront, $400 million to be vested over time. Also as part of the aforementioned agreement, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple.

The Apple-Beats acquisition is expected to close in fiscal Q4.

“Music is such an important part of Apple’s DNA and always will be,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “The 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.”



Tags: Apple, Beats Music, Beats Electronics, Dr. Dre, Jimmy Iovine, acquisition
About the author: George Norman
George is a news editor.
You can follow him on Google+, Facebook or Twitter

I Hope you LIKE this blog post! Thank you!
What do YOU have to say about this
blog comments powered by Disqus
Popular News
By George Norman on 17 Aug 2017
With the blockbuster movie season upon us, Sony decided to celebrate the occasion with a sale: the Attack of the Blockbusters Sale that offers discounts of up to 50% (60% if you’re a PlayStation Plus member) on a ton of PS4 video games.
By George Norman on 17 Aug 2017
Samsung’s new T5 portable solid-state drive (PSSD) uses the latest 64-layer V-NAND technology, offers between 250GB and 2TB of storage capacity, has a lightweight and shock-resistant design that’s smaller than the average business card, and delivers industry-leading transfer speeds of up to 540 MB/s.
Related News
By George Norman on 19 Jul 2017
Apple celebrated World Emoji Day by presenting 12 upcoming emoji characters that will be available across Apple devices later this year.
By George Norman on 24 Jul 2017
Piriform, the London-based company that’s best known for its very useful CCleaner cleaning utility and optimization tool, has been acquired by Avast, the Czech security company that bought AVG for $1.3 billion about a year ago.
By George Norman on 09 Aug 2017
Android started out as an underdog, as the mobile operating system that nobody took seriously. Big-name tech companies laughed it off and critics said it would fail miserably, but Android proved them all wrong and become the powerhouse that it is today.
By George Norman on 10 Jul 2017
Did you know that life is easier on iPhone? Put down the pitchforks for a moment and let me explain. And put out those torches as well...
Sponsored Links
Hot Software Updates
Top Downloads
Become A Fan!
Link To Us!
Dr. Dre Will Join Apple, Apple Will Purchase Beats
HTML Linking Code