Apple To Buy Beats Electronics For $3.2B, Report Says

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Those dreams of Dr. Dre finally making Detox may have just went up in smoke. If the news about the good doctor’s latest business move comes through he’ll probably too busy counting cash.

Apple is close to locking down the purchase of Beats Electronics in a $3.2 billion dollar according to The Financial Times. With $3.2 billion on the table this would be the largest acquisition Apple has ever done. Apple is reportedly high on Beats Music portion of the company in order to make them a strong player in the streaming music market. The deal would also include the hardware portion of the business as well.

Beats Electronics has been on an upswing recently. In 2012 they acquired MOG and re-branded it into Beats Music to expand further into the online music market. Recently Beats Music was the most downloaded music app and top grossing music app They also took over manufacturing of their products after severing their relationship with Monster Cable.

Both Apple and Beats have not made comment. We will update this post with any new information we learn.