May 30, 2014 09:07
Apple will buy Beats Electronics for US$3 billion, the company said on Wednesday. This is Apple's biggest acquisition to date.
Beats was co-founded by rap star Dr. Dre and record producer Jimmy Iovine in 2008, and is now the No. 1 headphone maker in the U.S.
The Beats headphones are also known to be the favorite of Olympic-medalist swimmer Park Tae-hwan. Dr. Dre and Jimmy Iovine will join Apple as executives.
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