Apple to acquire Beats for $3 billion

Apple Inc. has announced its plan to purchase American headphone producer Beats Electronics and online music streaming service provider Beats Music in a multi-billion dollar acquisition deal, according to a Silicon Republic report published online on May 28.

Apple confirmed it will acquire Beats for an initial payment of $2.6 billion and will contribute an additional $400 million over time. The company said the deal will undergo a necessary screening process and is expected to conclude in the fourth quarter of the current fiscal year.

Apple’s senior vice president of Internet Software and Services Eddy Cue stated that the acquisition would further improve Apple’s music product lineup.

During acquisitions, ensuring that your business interests are effectively taken cared of can become an overwhelming task. Thankfully, experienced lawyers at the Arenson Law Group, PC are ready to legally represent business owners in Cedar Rapids during such complicated business procedures. Call us at (319) 363-8199 to learn how we might assist you.