Apple CEO Tim Cook is on the brink of making the company’s largest ever acquisition, and is reportedly set to shell out US$3.2 billion for audio headphone and music streaming business Beats International.
The Financial Times reports the transaction could happen as early as next week. The deal, if concluded, would mark Apple’s first purchase of an established brand, and sets up a potential battle over music streaming with Spotify, Pandora, and YouTube.
Details for the takeover of the headphone and music streaming maker founded by Jimmy Iovine and hip-hop star Dr Dre are still being ironed out and talks could yet fall through.
Locally, Telstra has teamed up with Beats to launch the subscription music streaming service in Australia, although a launch date is yet to be confirmed. It is unclear what effect the Apple deal, if it goes through, would have on the arrangement.
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