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Apple announces $3 billion acquisition of Beats: the largest transaction in company history

 Last Update: 2021-05-02
 Source: Internet
 Author: User

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Phoenix Technology News, Beijing time, May 29 news, according to Bloomberg News, Apple announced on Wednesday that the company has agreed to acquire Beats Electronics LLC for $3 billion, acquiring the latter's streaming music subscription service and headset production line.

Apple said in a statement on Wednesday that Beats co-founders Jimmy Iovine and Dr.

Apple’s announcement of this transaction means that the company’s current CEO Tim Cook is willing to more actively use the company’s $150.

As the sales of the digital media download business decline, the acquisition of Beats will enable Apple to gain a foothold in the field of Internet-based streaming media.

Tim Cook said in a statement, "Music is an important part of our lives and it also holds a special place within Apple.

The transaction shows that Apple CEO Cook tried to achieve growth through acquisitions in the face of cold iPhone and iPad sales and slower growth pressure.

Music subscription

The core part that really attracted Apple to acquire Beats was the latter's music subscription service.

Apple urgently needs its own streaming music service.

McGuire believes that there are many reasons why vendors that previously provided music download services failed to switch to streaming music subscription services in time, but the main reason is lack of money, because it requires high compensation fees to artists.

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