The greatest news headline which we came across this week was about the purchase of Beats Electronics by Apple at a whopping deal closure of $3 billion which is Apple’s biggest deal so far. With a sum so huge, this can rightly be tagged as the most expensive deal ever made by Apple. And this is not the only first for Apple; the company has also for the first time moved in for a high-profile, well-known commercial entity. This is also going to be a huge change for Beats’ two most influential figures – Dr. Dre and Jimmy Iovine – members of Apple’s executive team.
These two men have got it all. They have had successful careers as record producers, label owners and all-round pioneers of the music scene. They first started selling the high-end audio equipment, including earphones and headphones back in 2006 and soon the Beats logo and name was heavily recognized in and outside the music industry. The Beats line now has been expanded and includes other audio equipment besides headphones.
Despite of having the immense catalog of music through the iTunes Music Store, Apple still needs to pull together something for a decent streamer and now the acquisition of Beats is going to give Apple a readymade service which is going to go right under its own belt. Dr. Dre and Jimmy Iovine will now become part of Apple’s music future and they have already the company as executives.