Finally Apple inc completes its deal with Beats Electronics (a company who’s mainly focus on Headphones and Speakers) in $3 Billion and also paid $404 Millions for Vivendi (French multinational mass media and telecommunication company) stake in Beats Electronics. The Beats Electronics was founded in 2006 by by rapper and hip-hop producer Andre “Dr. Dre” Young and Interscope-Geffen-A&M Records chairman Jimmy Iovine.Now these two companies main focus is on deeper product integration.
Apple “Welcome to the Beats” and also said those words in its Welcome page to Beats ” Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do. Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music. We’re delighted to be working with the team to elevate that experience even further. And we can’t wait to hear what’s next.” said by Apple.
And also decided to lay off 200-employees which are almost 29% of 700-employees.