Apple Acquires Beats Electronics for $3,000,000,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=efadcdcc-e1f4-49af-aa7a-ce32143b5be7
Date
5/28/2014
Company Name
Beats Electronics
Mailing Address
1601 Cloverfield Blvd Santa Monica, CA 90404 USA
Company Description
Established in 2006 as the brainchild of legendary artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics provides a premium sound experience at every touch point of the consumer’s life. It is the parent company of the Beats by Dr. Dre line of high-quality headphones, Beats Audio HD-sound systems, and the MOG digital music service.
Website
http://www.beatsbydre.com
Transaction Type
M&A
Transaction Amount
$3,000,000,000
Transaction Round
Proceeds Purposes
M&A Terms
Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time.