Beats produces headphones, of course, but they have also launched a music streaming service that could be seen as a competitor to Apple’s iTunes Radio. Now a report from The Financial Times seems to suggest that Apple could be gearing up to acquire the company. If true, maybe they don’t want the competition.
The deal is rumored to cost Apple $3.2 billion. And we know that Apple’s CEO, Tim Cook, has stated in the past that they are willing to make 10-figure acquisitions as long as it makes sense for them to do so. Maybe Apple plans to bundle Beats earphones in future iOS products. They also might want to launch some high-end headphones of their own. Or Beats Audio technology might make its way into future iOS/Mac products. We just don’t know yet.
The deal could be announced as early as next week. Other publications have also “confirmed” the deal using their own sources. What does Apple have planned for Beats? That is what everyone is wondering right now. It makes sense to buy them and eliminate a competitor, while also grabbing their technology.