Apple’s $3 Billion Beats Purchase Now a Done Deal
Apple’s $3 billion purchase of Beats Music and Beats Electronics has been completed, according to a welcome page that Apple posted to its website.
“Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family,” Apple said, adding praise for Beats co-founders Jimmy Iovine and Dr. Dre.
“We’re delighted to be working with the team to elevate that experience even further,” Apple said. “And we can’t wait to hear what’s next.”
An Apple representative was not immediately available for comment.
The deal was announced in May and Apple said it expected to close the transaction this quarter. Earlier today, Vivendi said it had completed its $404 million sale to Apple of its 13 percent stake in Beats.
Apple has notified roughly 200 Beats workers that their positions at Apple will only be temporary, while the remainder will join Apple permanently.
7:45 a.m.: An Apple representative confirmed the deal has been completed.