Apple’s Acquisition Of Beats More About Talent
Earlier this month there was news about Apple’s plan to acquire Beats Electronics, though still there has been no official communication from either of the companies. According to TechCrunch, a well-placed source who is familiar with ongoing discussions of the deal has confirmed Apple’s acquisition of Beats “is happening”. The deal which was close to falling apart many times has “70% certainty” of acquisition of the multibillion-dollar headphone company according to the source.
The source also added that Apple is more interested in Beats not only because of the technology but the talent that runs the company. It is more about hiring Beats’ co-founders, Dr. Dre and Jimmy Iovine, than the actual company itself:
“They want Jimmy and they want Dre,” said the source. “He’s got fashion and culture completely locked up.”
The news that came two weeks back speculated $3.2 Billion as the value of the deal, and it could happen in the following week, but final terms are yet to be agreed upon.
Though there is still a 30% chance of the deal to fall apart post discussions between Apple and Beats, the source has confirmed that, “The deal hasn’t fallen apart yet”.