Apple is close to buying Beats Electronics for $3.2 billion, according to Financial Times. The report says that the agreement has yet to be finalized and the announcement could come as early as next week. If true, this would be a bigger deal for Apple. In an interview with the Wall Street Journal, Tim Cook has told in February that the company is open to big, right purchase. He said, “we have no problem spending ten figures for the right company that’s the right and that’s in the best interest of Apple in the long-term.”
It is not clear what Apple is planning with Beats, but we expect that Beats Music could provide Apple with a streaming music platform more advanced than iTunes Radio. Both the companies has not commented on the matter.
SOURCE: Financial Times