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May 30, 2014

Apple Confirms Acquisition of Beats

It’s official. Apple announced today that it has agreed to purchase Beats for £1.8 billion (US$3 billion) in a deal that is expected to close later this year.

Since the first rumours, many have wondered why Apple would purchase a company that is best known for manufacturing high-priced headphones. Now we know the answer.

Although Apple has not explicitly stated its reasoning, the structure of its press release shows that Beats Music – the fledgling music streaming service that launched this past January – is at the centre of the deal.

Throughout the press release, the music streaming service is mentioned ahead of Beats Electronics, the headphone portion of the [...]

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May 10, 2014

Apple Acquisition of Beats Almost Makes Music Sense

Apple seeks to compete with Spotify with their recent acquisition of Beats and Beats Music

When seemingly credible rumours surfaced two days ago that Apple was in the final stages of a £1.9 billion (US$3.2 billion) acquisition of headphone maker Beats by Dre, the world scratched its head. Now that a little time has passed, the deal is starting to make sense – sort of.

Since its launch in 2008, Beats has taken the world by storm. The premium headphone maker controls 59 percent of the high-end market and generated £590 million (US$1 billion) in revenue this past year. It also has a small music streaming service with approximately 200,000 subscribers.

The headphones are [...]

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