Posted by Business Insider on September 18, 2018 10:53:58Apple is set to buy Beats Audio for $3 billion.
The deal is the biggest acquisition of Beats Electronics in a decade and comes just two months after Apple announced the acquisition of music streaming service Tidal.
The move could put an end to speculation that Apple is planning to move to an Apple Music-style music streaming business.
Apple did not immediately respond to a request for comment.
A source close to the deal told Business Insider the deal is in its early stages and that the two companies are still working on details.
“The deal’s still being finalized and we’re just working through the details,” the source said.
The source also said that Apple’s focus is on music and not Beats, as many had speculated.
“We’ve got a great vision for Apple Music and the music experience,” the person said.
“We’re not trying to compete with Spotify or Apple Music.”
While Beats Electronics has been making music-streaming devices for a while, it has not had a presence in the music industry.
Apple is already selling headphones that use Apple’s A8 processor.