Hear That? Apple May Buy Beats Electronics in $3.2 Billion Mega Deal.
Looking to turn up the volume on its “cool” factor, Apple is reportedly cooking up a plan to buy Beats Electronics.
The consumer tech giant is reportedly in talks to buy the premium headphone maker for $3.2 billion in a deal that could be announced as soon as this week, sources told the Financial Times.
The move would mark Apple’s largest acquisition ever.
Beats, which was founded in 2008 by hip-hop mogul Dr. Dre and record producer Jimmy Iovine, was once majority owned by phone maker HTC. HTC sold nearly half of its stake in July 2012 for about $150 million, and the remainder for $265 million last fall.
Beats also received a $500 million investment from private-equity firm Carlyle Group in September.
If a deal is inked, Apple would acquire Beats’ streaming service, which launched in January, and its headphone and audio equipment unit, the Financial Times reports.
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Lauren Covello is the former managing editor of Entrepreneur.com.