Apple in talks to acquire Beats for $3.2bn

Technology giant Apple is in talks to buy headphone maker and music-streaming service provider Beats Electronics, according to various media reports.

The reports claim Apple could pay as much as $3.2bn (£1.9bn) and a deal could be announced next week.

If completed, it will be Apple’s biggest ever acquisition.

It is being seen as a move by Apple to get a stronger foothold in the phone and music accessories business and bolster its online music offerings.

The two areas are expected to see fast growth in the coming years.

The Financial Times, which was the first to report the talks, cited a source as saying the firms were still negotiating the details.

Beats was founded by music producer Jimmy Iovine and the hip-hop star Dr Dre and until recently was best known for its headphones.

It started a subscription-based music streaming service earlier this year.

However, Apple already has its own iTunes store which is the world’s largest music download service. It also launched iTunes Radio last year.

That has made some industry watchers question the move.

BBC