Apple Officially Closes Beats Acquisition Deal
Beats, which was cofounded by Jimmy Iovine and Dr. Dre and is comprised of Beats Electronics and Beats Music, has officially been acquired by Apple following the closing of a $3 billion deal. The deal itself was announced earlier this year in May, with the European Union providing final approval earlier this week. Within the deal closing announcement, Apple mentioned that it plans to elevate the experience that music provides listeners and is excited to work with individuals on the Beats team that are so enthusiastic about music. Apple did not disclose just exactly what it plans to do with Beats as a company going forward, however.