Apple acquires Beats Electronics for $3 billion

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May 29th, 2014, 00:24 Posted By: wraggster

Apple is making things official: Dr. Dre's Beats Electronics belongs to Cupertino, and it cost them $3 billion. Rumors had circulated that CEO Tim Cook was interested in nabbing up the audio accessory and music-streaming outfit, corroborated by a beer-drenched video in which Dre himself declared that he had become "the first billionaire in hip-hop." And now, after Financial Times had already let the cat out of the bag, we have Apple's side of the story. As expected, co-founders Jimmy Iovine and Dr. Dre (Andre Young) will join Cook and VP of Internet Software and Services Eddy Cue, but their exact job titles haven't been revealed just yet.

http://www.engadget.com/2014/05/28/a...for-3-billion/

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