Apple’s Beats deal is now offficial confirmed. The $3 Billion deal, biggest acquisition by Apple till date, was announced in May. Today, the deal has got regulatory approvals from the US for this deal.
Officially welcome the Beats team with a separate web page, this is what Apple has posted :
Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do. Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music. We’re delighted to be working with the team to elevate that experience even further.
As per the terms of the acquisition, both Beats Audio and Beats Music will keep up their operations. The Beats Music team will be joining Apple and report to Senior Vice President of Internet Software and Services Eddy Cue. Apple has also confirmed the recently launched Beats Music streaming service will remain available for Android and Windows Phone devices after acquisition.
Also, earlier today, Vivandi, which held a 13% stake in Beats, had confirmed that they have sold their share to Apple for $404 Million.